socialexpat-Indonesia-surrounded-to-inflation-by-ASEAN-countries-cover

Indonesia Surrounded to Inflation by ASEAN Countries

Share:

July 26, 2022 – Indonesia becomes one of the countries that is surrounded to inflation by ASEAN countries. This inflation is due to the Russia-Ukraine war which had an impact on rising prices for food, commodities, energy, and finances. The surge in inflation has happened not only in Indonesia but also in America and Europe, also including ASEAN countries such as Malaysia and Vietnam.

Indonesia recorded up to a 4,35 percent inflation spike in June 2022, the highest its ever been since 2017. In addition to the rise of food and commodities, domestic inflation was also driven by price increases regulated by the government such as fuel (BBM) and electricity which are not subsidized by the government.

Indonesia is among Bloomberg’s 15 countries threatened by recession

Bloomberg has released a list of 15 countries with a risk of recession. Indonesia is ranked 14 out of 15 countries with a potential recession of 3 percent. Sri Lanka is the first on the list with a potential 85 percent recession.

However, the Head of the Presidential Staff Office Moeldoko said that Indonesia’s economy is doing well compared to countries within the list of 15 countries threatened by the recession by Bloomberg.

“We are grateful that Indonesia is ranked 14 out of 15 on the list,” Moeldoko said in THE Presidential Palace on Monday (25/7).

He claims that the inflation in the country is far better than in other countries. He also said that the economic growth in Indonesia is in a good condition. Moeldoko empathizes with the rise of prices in commodities like cooking oil, but he said that it’s because the world’s economy is in a difficult time.

“I want to tell the public that the global economy is indeed not in a good condition and reassure that our national economic conditions is relatively good,” he said.

CEO Goldman Sach David Solomon predicted that global inflation has yet to reach its climax. There is still a probability that a recession will happen due to the current world’s condition.

Share:

Content Writer

An escapist yet realistic, Yohana tends to keep her feet on the ground and head above the clouds. A culture enthusiast with impulsive tendencies when it comes to knowledge and food. She starts her writing journey during high school as a hobby at first, before it grows into passion and love.

Related News

In this article, Social Expat is joined with Givenia, a professional legal associate from LMI Consultancy, to answer your most common questions in regard to registering a company in Indonesia in 2025. You may have noticed a lot of conflicting information on the internet and in social media groups about registering a new business in […]

The Indonesian rupiah continued its downward spiral this week, breaching the psychologically significant threshold of Rp17,000 per US dollar. Jakarta, 7 April 2025 – The sharp depreciation of Indonesia Rupiah (IDR) towards US Dollar (USD) came in the wake of sweeping import tariff policies announced by United States President Donald Trump, sending ripples across global […]

The long holiday of Libur Lebaran is just around the corner, and for those staying in Indonesia, finding the perfect way to spend the break can be an exciting challenge. While many opt for a getaway to Bali or Yogyakarta, the vibrant music scene in Indonesia offers another enticing option—concerts. April 2025 is shaping up […]

Eid al-Fitr in Indonesia or also well-known as Idul Fitri, is an important day in the month of Ramadan. As we reach to the end of Ramadan, a full-month dedicated to fasting and prayer. For millions of Indonesians, it’s a time to reconnect with loved ones including express gratitude, and embrace the need to ask […]

Expat Property

Indonesia Visas

Expat Event

Social Networking
150,000
Above Rooftop, Four Points by Sheraton Seminyak
Social Networking
150,000
PENN, Jakarta
Social Networking
150,000
Glitz Inclusive, Kuningan City Mall

Indonesia Guide

Just For Fun

Write For Us

Exclusive Promotions

Event Gallery