IMF Predicts Indonesian Inflation to Near 4% by the End of 2022

Economics & Macro

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Dzulfiqar Fathur Rahman 25/04/2022 17:30 WIB

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The International Monetary Fund (IMF) projects Indonesia's annual inflation rate to reach 3.97% in 2022 and 3.05% in 2023, according to its April World Economic Outlook (WEO).

Indonesia's Annual Consumer Price Inflation Rate (2019-2023*)

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IMF Predicts Indonesian Inflation to Near 4% by the End of 2022

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Indonesia's Annual Consumer Price Inflation Rate (2019-2023*)

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With the economic recovery, the International Monetary Fund (IMF) projects an increase in Indonesia's inflation rate.

The IMF projects that Indonesia's Consumer Price Index (CPI) will grow by 3.97% (year on year/yoy) at the end of 2022 compared to the previous year.

The annual inflation rate is then projected to slow to 3.05% (yoy) at the end of 2023.

This IMF projection is in line with Bank Indonesia (BI), which targets the national inflation rate to be in the range of 3% to 4% for 2022.

"Inflation remains manageable, allowing (BI) to support the recovery through accommodative policies and is expected to gradually increase within BI's target range in 2022," wrote Bank Mandiri economist Faisal Rachman in his analysis released on Wednesday (20/4/2022).

The projection of a faster inflation rate in 2022 is also in line with the surge in commodity prices such as coal, palm oil, and wheat, which occurred following the Russia-Ukraine war.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."