"For 2020, (the inflation rate) was recorded at 1.68 percent. If we compare this figure to 2014, it is the lowest inflation figure,” Setianto, the agency's Deputy for Distribution and Services Statistics, stated at a virtual press conference here on Monday.
The annual inflation rate is much lower than the government's target of three percent, give or take one percent.
The 2014 inflation rate was recorded at 8.36 percent, and the figure decreased to 3.35 percent in 2015, 3.02 percent in 2016, 3.61 percent in 2017, 3.13 percent in 2018, and 2.72 percent in 2019.
On a monthly basis, inflation began rising since October 2020, reaching 0.07 percent, and thereafter increased by 0.28 percent in November and by 0.45 percent in December.
Related news: Indonesia records 0.07% inflation in October
The inflation in December 2020 was largely triggered by an increase in the prices of commodities, including of red chili, eggs, and chili peppers in addition to the rates of air transportation.
The inflation data was derived from the Consumer Price Index (CPI) of 90 cities, of which 87 cities experienced inflation and three cities recorded a deflation.
Meanwhile, the highest inflation occurred in Gunung Sitoli, reaching 1.87 percent, and the lowest inflation in Tanjung Selor at 0.05 percent.
The highest deflation of minus 0.26 percent was recorded in Luwuk and the lowest deflation was clocked in Ambon, at minus 0.07 percent.
The largest share of the inflation came from food, beverages, and tobacco, at 0.38 percent; followed by transportation, 0.06 percent; and provision of food and beverage and restaurants, 0.02 percent. Related news: BI pegs inflation at 0.30% in first fortnight of Dec