Indonesia's inflation falls by 2.06 pct in February

The Statistics Indonesia (BPS) on Tuesday announced that Indonesia's annual inflation rate in February 2022 fell as the government set the highest retail price for cooking oil following its soaring cost.

BPS Deputy for the Statistics of Distribution and Services Setianto said the country's consumer price index in February was recorded at 2.06 percent year-on-year (yoy), 0.54 percent year-to-date (ytd), and deflation of 0.56 percent month-to-month (mtm).

These figures were lower than the country's January inflation of 2.18 percent yoy, and 0.56 mtm.

"Commodities contributing to this decline were foods, beverages and tobacco," Setianto said in a virtual press conference.

This figure is slightly different from the central bank's estimate that in February the country has the potential for deflation of 0.10 percent mtm, as well as inflation of 1.97 percent yoy and 0.46 percent ytd.