Jokowi Aims for Inflation Below 3 Percent

Jakarta: President Joko Widodo (Jokowi) targets the inflation rate to continue to fall below the three percent level in September or October 2023.
 
He conveyed this after directly observing the prices of a number of food commodities at the Tanjungsari Market, Sumedang Regency, West Java Province.
 
The current national inflation rate has also decreased from four percent to 3.5 percent. One of the ways to reduce the inflation rate is by maintaining the stability of food prices.

"We hope that in September, October it will be below three (percent), we hope," said Jokowi in an official statement, Tuesday, July 11, 2023.
 
He revealed, the results of monitoring the basic foodstuffs at the Tanjung Sari Market. He said a number of staple commodities showed stable prices, especially the price of chicken, shallots and chilies.
 
"We checked everything, what I'm most happy about is that the meat is already at IDR38,000 for chicken, shallots, chilies, everything is in a stable position," he said.
 
The annual national inflation rate is predicted to continue to decline and be within the target range of the government and Bank Indonesia until the end of 2023. The national inflation rate is projected to be at 3.60 percent this year.
 
"We are of the view that inflation will continue to decline and remain within the target range of two to four percent until the remainder of 2023," said Bank Mandiri economist Faisal Rachman.
 
He added that inflation has the potential to reach three percent or even lower by the end of 2023. That can happen if the government is able to manage food prices and supply effectively. This is because food inflation has the potential to rise due to El Nino challenges and extreme weather that needs attention.
 
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