Indonesia Posts 1.42% YoY Inflation in September 2020; Outlook Remains Subdue for Rest of 2020

Indonesia’s Consumer Price Index (CPI) remained subdued at 1.42% year-over-year (YoY) in September 2020, following a record low drop to 1.32% YoY in the previous month, according to Statistics Indonesia, locally known as Badan Pusat Statistik (BPS).

This is the third month that inflation has fallen below Bank Indonesia’s target range of 2-4% YoY for 2020, media reported, with inflation expected to remain subdue for the rest of the year as economic activity is on a downtrend following continued COVID-19 lockdown restrictions in the capital city of Jakarta.

According to BPS, prices for personal care and other services increased the greatest by 6.97% YoY in September 2020,...