The tug-of-war for the November BI 7DRR survey. NHKSI Research sees that the increase in subsidized fuel prices last September, still had an impact on October inflation, but it is likely to be reduced by deflation in a number of food, beverage and tobacco groups. Until now, the survey noted that the November BI 7DRR is projected to rise in the range of 25 bps to 50 bps.
SMRA: Launch Summarecon Crown Gading. PT Summarecon Agung Tbk (SMRA) opened a new area, namely Summarecon Crown Gading (SGC), covering an area of 437 Ha. The company stated that Summarecon Crown Gading is the 8th developing city-scale area by Summarecon, after Kelapa Gading, Serpong, Bekasi, Bandung, Karawang, Makassar, and Bogor. The development of this area is the result of a joint venture collaboration between Summarecon and Duta Putra Land. (Emiten News)
Carbon Tax Implementation Will Apply on 2025. The government has postponed the carbon tax implementation twice. The implementation, which was supposed to be implemented in July 2022, was delayed. Coordinating Minister for Economic Affairs, Airlangga Hartanto, stated that the government will start implementing the carbon tax in the upcoming 2025. He said that this policy is a form of the government’s commitment to reduce greenhouse gas emissions or to achieve the net zero emission target in 2060. (Kontan)
US high inflation remains above 8% YoY. The soaring of rental housing and food costs kept the inflation high, or the pace US CPI Headline on Sept. was 0.4% MoM (Aug. 0.1% MoM) and 8.2% YoY (Aug. 8.3% YoY), reinforcing expectation of the fourth hike on FFR 75 Bps in November, according to CME FedWatch. Furthermore, with the PPI and CPI data that remain at high levels, it is likely to make the US PCE Core Deflator Sept. surpass the level of 5% YoY (Vs. Aug. 4.9% YoY). The data will be released at the end of the month.
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