Jakarta, 28 Syawwal 1437/02 August 2016 (MINA) – Coordinating Minister for Economy Darmin Nasution said he did not agree with what many believed that the domestic market has stagnated.
The slight increase in the monthly inflation in July to 0.69 percent from 0.66 percent in June was a reflection of an increase in demand, Antara quoted the chief economic minister as saying.
“What has been generally believed so far that demand was weakening is clearly not true,” he said here on Monday.
He said the rise in inflation rate (in July) was caused mainly by an increase in spending by the end of Ramadhan (the Islamic fasting month) and Idul Fitri.
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However, spending had increased in almost all areas not only in food and transport sectors, he noted.
Head of the Central Bureau of Statistics Suryamin (BPS) said foodstuff and transport sectors were the largest contributors to the rise in inflation in July.
The people tend to have larger consumption early July, 2016 on long holidays with hundreds of thousands of people holidaying or sharing Idul Fitri celebrations with their relatives.
The monthly inflation in July brought the countrys inflation in the first seven months of the year to 1.76 percent.
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Year-on-year in July the inflation was 3.21 percent in July, 2016. (T/R07/R01)
Mi’raj Islamic News Agency (MINA)
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