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Indonesia’s low inflation sparks worry about economy

Indonesia’s decade-low inflation rate has sparked concern among several economists that it foreshadows a further weakening of the largest economy in Southeast Asia.
Indonesia’s low inflation sparks worry about economy ảnh 1Illustrative image (Photo: Jakarta Post)
Jakarta (VNA) - Indonesia’s decade-low inflationrate has sparked concern among several economists that it foreshadows a furtherweakening of the largest economy in Southeast Asia.

The consumer price index (CPI) inched up 2.72 percent in2019, the lowest since 1999 when the CPI rose by 2.13 percent.

Speaking at a press conference on January 2, Chief Statistician of the BPS-Statistics Indonesia Suhariyanto concludedthat prices are under control, but the government should be careful with lowinflation, which showed poor consumption and hurt production.

Accounting for more than halfof the gross domestic product, household spending only rose by 5 percent in thethird quarter of 2019, lower than 5.17 percent in the second quarter.Meanwhile, economic growth dropped to 5.02 percent in the third quarteryear-on-year, the lowest over the past two years, said Director of the Centreof Reform on Economics of Indonesia Mohammad Faisal./.

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