Tue, 01 Jul 2008
Jakarta (ANTARA News) - Indonesia's annual inflation in June accelerated to its fastest pace since September 2006, driven by higher transportation costs after the government hiked subsidised fuel prices the month before, the Central Bureau of Statistics said Tuesday.

The consumer price index (CPI) in June was up 2.46 percent from May and was up 11.03 percent from a year ago, said Ali Rosidi, a deputy chairman of the Central Bureau of Statistics.

In May, CPI rose 1.41 percent from April and was up 10.38 percent from a year ago.

Rosidi said transportation, communications and financial services costs rose 8.72 percent in June from the previous month.

The government hiked fuel prices on May 24 by an average of nearly 30 percent to cut fuel subsidy spending, which has been swelling due to the oil price spike.

Rosidi said all other CPI components also rose in June.

Fresh food prices were up 1.28 percent; prices of processed food, beverage and tobacco gained 1.33 percent; and housing, water, electricity and fuel costs increased 1.14 percent.

Clothing prices were up 0.49 percent, healthcare costs increased 0.83 percent, while the cost of education, recreation and sports increased 0.44 percent.

The month-on-month inflation figure came within analysts' forecasts but the year-on-year figure was lower than expected.

Economists polled by Thomson Financial were expecting consumer prices in June to have risen by 1.62 percent to 2.78 percent from May, and to have increased by 11.95 to 13.18 percent from a year ago.

Rosidi said that in calculating the June CPI, the agency changed the base year to 2007 from 2002 and also expanded the number cities surveyed to 60 from 45 before.

Analysts earlier said the change in the base year was the risk to their forecasts for June inflation. (*)



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