Rising Food and Energy Prices: World Bank Projects Soaring Inflation in Indonesia

Economics & Macro

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Dwi Hadya Jayani 06/01/2022 14:40 WIB

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Indonesia's increasing inflation is driven by high global food and energy prices. The rise in Indonesian inflation is also due to persistent supply chain disruptions.

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Rising Food and Energy Prices: World Bank Projects Soaring Inflation in Indonesia

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Indonesia's Inflation Rate (2019-2024)

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The World Bank projects that Indonesia's inflation will surge above 2% after 2021, driven by high global food and energy prices. Previously, Indonesian inflation had decreased when the pandemic first hit Indonesia in 2020.

In 2020, Indonesia's inflation was recorded at 2%. The inflation rate that year fell from 2.8% in 2019.

Then, the inflation rate slowed again to 1.6% in 2021. However, the World Bank forecasts that Indonesian inflation will rise to 2.2% the following year.

The inflation rate will increase again, albeit slightly, to 2.5% in 2023. A sharp increase in Indonesian inflation is predicted to occur in 2024, reaching 3.4%.

In addition to being driven by high global food and energy prices, the increase in Indonesian inflation is also caused by persistent supply chain disruptions.

Editor : Annissa Mutia

"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."