Indonesia’s inflation rate in September accelerated to its highest since 2015 due to higher transportation costs following a fuel price hike, statistics bureau data showed yesterday.
The annual core inflation rate, which excludes government-controlled prices and unstable food prices, picked up pace in September by 3.21 percent, compared with 3.04 percent in August and 3.60 percent forecast by critics.
The headline annual inflation rate rose to 5.95 percent in September, up from 4.69 percent in August.
The head of Satistics Indonesia Margo Yuwono had warned that the inflation may be worse in October. He said:
“September’s inflation was mostly affected by the rise in fuel prices and inflation in the transportation sector.”
Indonesia lifted subsidized fuel prices by about 30 percent in early September as the government moved to rein in ballooning subsidy bills.
Many countries around the world are suffering from economic problems, including members of the World power, like the United Kingdom.
The United Kingdom recorded its lowest currency rate in 40 years against the United States dollar, due to new economic and taxation policies.
The Iranian currency also recorded a lower value against the United States dollar in 2018, due to chaos and the destruction of properties.
The Euro has also dropped in value against the US dollar, as many other countries battle hiked prices and inflation.