Inflation rate in Indonesia 2024

Indonesia: Inflation rate from 1984 to 2024 (compared to the previous year)

by H. Plecher, last edited Sep 10, 2019
Inflation rate in Indonesia 2024 This statistic shows the average inflation rate in Indonesia from 1984 to 2018, with projections up until 2024. In 2018, the average inflation rate in Indonesia amounted to about 3.2 percent compared to the previous year.
The global financial crisis and economic consequences

The global economy underwent a drastic slump due to the global financial crisis in 2008, which caused a continued increase in the general level of prices of goods and services; the highest recorded global inflation of the past decade took place in 2008, when the global inflation rate increased by more than 6.4 percent in comparison with the previous year. As for Indonesia, the country's inflation rate amounted to around 9.8 percent in comparison to the previous year.

The financial crisis also impacted the global unemployment rate. In 2009, the global unemployment rate jumped to around 6.2 percent, and it is not expected to recover to pre-crisis levels anytime soon. The financial crisis impact on the Indonesian economy was slightly more severe: In 2008, the unemployment rate in Indonesia was around 8.4 percent, much higher than the global unemployment rate for the same year. It has, however, now decreased significantly, even though it is still not below the global level, the country itself has reached lower levels than before the crisis.

After the financial crisis, the Indonesian government implemented several economic reforms and increased exports in order to strengthen the economy. In 2011, Indonesia exported goods with a value of more than 200 billion U.S. dollars. The main export partners of Indonesia are Japan, China and Singapore. As a result of increased exports, the Indonesian economy was able to grow, making Indonesia one of the twenty nations in the world with the largest gross domestic product in 2015.
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Indonesia: Inflation rate from 1984 to 2024 (compared to the previous year)

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