- Indonesia experienced deflation (-0.09% YoY / -0.48% MoM) due to discount on household electricity prices.
- Normalized harvest season and government price stabilization scheme limit price increases in volatile food.
- Consumer surplus caused by electricity discount may be expended for the next several months.
- Higher inflation expected in March and April as Ramadan and Eid Al-Fitr coincide with the elimination of electricity discount.
