Indonesia's inflation hits 6.96 per cent in 2010

Mon, 03 Jan 2011

Jakarta - Indonesia's consumer price index in December increased 0.92 per cent against the previous month, driven by the rising cost of rice and other foodstuffs, housing, beverages and cigarettes, a senior government official said Monday.

That brought the country's inflation rate for 2010 to 6.96 per cent, well above the budget target of 5.3 per cent.

"Inflation in December was high enough. This is beyond our expectations," said Rusman Heriawan, chairman of the Central Bureau of Statistics.

President Susilo Bambang Yudhoyono on Monday said at a ceremony marking the start of stock market trading that the economy was expected to grow 6.4 per cent in 2011 and unemployment would fall to 7 per cent.

The total value of exports reached 15.34 billion dollars in November 2010, up 6.52 per cent from 14.22 billion dollars in October. It brought total exports for January-November 2010 to 140.65 billion dollars, a rise of 36.34 per cent compared with the same period of the previous year.

The value of imports value reached 13.07 billion dollars in November, up 7.85 per cent from the previous month's figure of 12.12 billion dollars. It took the value of the January-November 2010 imports value to 122.58 billion dollars, up 41.66 per cent from the same period of 2009.

Source: Earth Times.
Link: http://www.earthtimes.org/articles/news/360480,inflation-hits-696-2010.html.