Jakarta: Bank Indonesia (BI) Governor Perry Warjiyo strongly believes that inflation will remain under control this month.
"Our prediction is 0.47 percent month-to-month (mtm) or 3.1 percent year-on-year (yoy)," the BI leader told journalists on Friday.
"Consumer prices are low and stable. We always monitor food supplies. We always control the prices. Only few items recorded an increase this month. some of them were red chilli peppers, chicken meat and garlics. There were also several types of fruits," the BI official explained.
In April 2019, inflation stood at 0.44 percent month-to-month (mtm) and 2.83 percent year-on-year (yoy). Based on data from the Central Statistics Agency (BPS), it was primarily influenced by spice prices.
Last month, shallot prices increased by 22.93 percent. In the meantime, garlic prices increased by 35 percent.
Bank Indonesia (BI) decided to hold its 7-Day Reverse Repo Rate at 6.00 percent after a Board of Governors meeting last week. The central bank also decided to maintain the Deposit Facility (DF) and Lending Facility (LF) rates at 5.25 percent and 6.75 percent respectively.
According to the central bank, the decision is consistent with efforts to maintain the external stability of Indonesia’s national economy amidst the re-emergence of global financial market uncertainty. Moving forward, BI will remain vigilant of global financial market dynamics and external stability with due consideration to the space available for accommodative monetary policy in line with low inflation and the need to stimulate domestic economic growth.
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