Inflation remains under control in november: BI

Inflation remains under control in november: BI

Members of Bank Indonesia's Board of Governors present the result of their meeting for the period of November in Jakarta on Thursday. (Indra Arief Pribadi)

Jakarta (ANTARA News) - Consumer Price Index (CPI) inflation remained under control in November 2018, within the target corridor of 3.5?1 percent, Director at Communication Department, Bank Indonesia, Junanto Herdiawan, said.

CPI inflation was recorded at 0.27 percent (mtm), which was relatively stable on the 0.28 percent (mtm) posted the month earlier, based on a statement received here on Thursday.

Headline inflation was controlled with the support of lower core inflation coupled with volatile foods (VF) inflation that was below the historical trend, Herdiawan remarked.

On the other hand, inflationary pressures on administered prices (AP) were well contained despite increasing slightly in the previous period.

Herdiawan stated that cumulatively from January-November 2018, CPI inflation stood at 2.50 percent (ytd) or 3.23 percent (yoy).

Core inflation was controlled at 0.22 percent (mtm), which was relatively stable compared to the 0.29 percent (mtm) recorded the month earlier.

Annually, core inflation stood at 3.03 percent (yoy) in November 2018, increasing slightly from 2.94 percent (yoy) the month earlier.

The main contributors to core inflation in the reporting period were non-supervisor wages, wall paint, house rentals, mobile phone credits, and gold jewelry.

Nevertheless, core inflation was kept under control due to policy consistency by Bank Indonesia in terms of anchoring rational inflation expectations, including maintaining exchange rates in line with the rupiah?s fundamental value.