INDONESIA ECONOMY INFLATION

Mass layoffs in several companies in Indonesia

epa10207016 Indonesian workers walk out from a commuter line at a train station in Bogor, Indonesia, 26 September 2022. Media report that the increase in the price of fuel oil has resulted in several large companies in Indonesia carrying out mass layoffs. During the week to Saturday, 24 September 2022, a number of companies announced they were cutting their employees. Bank Indonesia estimates that inflation in Indonesia in September 2022 will reach 1.09 percent on a monthly basis. The increase in inflation is due to the increase in fuel prices. This increase in inflation will certainly affect economic growth in Indonesia, although it is believed that economic growth will continue to rise until the end of the year. EPA/ADI WEDA

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