Monthly inflation hits 25-year high of 6.88%<\/p>\n
JAKARTA (JP): The monthly inflation rate for January hit a 25-
\nyear high of 6.88 percent due to sharp increases in the prices of
\nfood, housing, clothes and services, Minister of Information R.
\nHartono said yesterday.<\/p>\n
Hartono said the January inflation rate was much higher than
\nthe previous record high of 2.04 percent in December.<\/p>\n
"The January figure brought the cumulative inflation rate for
\nthe April to January period, the first 10 months of the current
\nfiscal year, to 15.97 percent. That's up from 4.24 percent in the
\ncorresponding period last year," he said following the monthly
\ncabinet meeting on economic affairs.<\/p>\n
The meeting, chaired by President Soeharto, was joined by all
\neconomic-related ministers, including Minister of Finance Mar'ie
\nMuhammad, Bank Indonesia Governor J. Soedradjad Djiwandono and
\nMinister of Industry and Trade Tunky Ariwibowo.<\/p>\n
In January, food prices surged 10.15 percent while housing
\nprices were up 3.64 percent. Clothes prices rose 12.56 percent
\nand services increased in price by 4.16 percent.<\/p>\n
Indonesia's annual inflation rate was 11.05 percent during the
\nlast calender year, the first double-digit inflation rate since
\n1983.<\/p>\n
The annual inflation rate was checked at 11.46 percent in 1983
\nbut was kept between 4.94 percent and 9.5 percent in the
\nfollowing years through 1996.<\/p>\n
According to the Central Bureau of Statistics, the inflation
\nrate in calendar 1997 was much higher than the 6.47 percent
\nfigure recorded in 1996.<\/p>\n
The government estimates the annual inflation rate will hit 20
\npercent in the next fiscal year beginning in April.<\/p>\n
On international trade, Minister of Trade and Industry Tunky
\nAriwibowo announced that Indonesia recorded a US$1.42 billion
\ntrade surplus for November.<\/p>\n
"It is a record-breaking monthly trade surplus, a 77 percent
\nincrease from the same month in 1996," the minister said.<\/p>\n
Tunky said November's exports were worth $4.66 billion,
\ncomprising of $949.7 million in oil and gas exports and $3.71
\nbillion in non-oil commodities. October's exports were worth
\n$4.56 billion.<\/p>\n
November's imports totaled $3.23 billion, comprising of $243
\nmillion in oil and gas and $2.99 billion in non-oil goods. It was
\na decline from October's $3.46 billion in imports.<\/p>\n
Tunky added that Indonesia posted a cumulative trade surplus
\nof $10.23 billion for the first 11 months of the last calender
\nyear.<\/p>\n
Exports during the period totaled $48.72 billion, $10.62
\nbillion in oil and gas and $38.10 billion in non-oil goods.
\nImports for the same period totaled $38.49 billion. (prb\/gis)<\/p>\n
Table: January-November trade balance (in US$ billion)<\/p>\n
1997 1996<\/p>\n
----------------------------------------<\/p>\n
Trade balance +10.23 +6.03<\/p>\n
Exports 48.72 45.13<\/p>\n
Oil and Gas 10.62 10.49<\/p>\n
Non-oil 38.10 34.64<\/p>\n
Imports 38.49 39.10<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/monthly-inflation-hits-25-year-high-of-688-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }