Indonesia’s inflation hits record 20-year low in August

File photo of shoppers and traders at Pasar Gede in Solo, Central Java. Indonesia's August 2020 inflation was the lowest in two decades as consumer prices fell due to weak purchasing power. - Antara

JAKARTA (The Jakarta Post/ANN): Indonesia recorded the lowest inflation in two decades in August as consumer prices fell due to weakening purchasing power, Statistics Indonesia (BPS) announced on Tuesday (Sept 1).

BPS said Indonesia's consumer price index (CPI) declined to 1.32 per cent in August. The CPI fell further below Bank Indonesia’s 2020 inflation target of 2 to 4 pe rcent to reach the lowest level since May 2000, as the global health crisis continued to batter the country's economy and consumer spending.