Jakarta: The Central Statistcs Agency (BPS) today announced that inflation in March 2020 reached 0.10 percent month-to-month (mtm) and 2.96 percent year-on-year (yoy).
"The main contributors were gold jewelry, chicken eggs, onions and sugar," BPS chairman Suhariyanto told a virtual press conference here on Wednesday, April 1, 2020.
According to the BPS head, core inflation stood at 0.29 percent, administered prices experienced a deflation 0.19 percent, while volatile food experienced a deflation of 0.38 percent.
In addition, 43 surveyed cities experienced inflation, while the other 47 surveyed cities experienced deflation.
Due to the ongoing covid-19 outbreak, President Joko "Jokowi" Widodo recently issued Government Regulation in lieu of Law on State Finance Policy and Financial System Stability. The regulation aims to serve as a foundation for the Government, banking authorities, and financial authorities to take extraordinary measures to ensure the people’s health, safeguard national economy, and maintain financial system stability.
In addition, the government also allocated up to Rp4015.1 for the handling of the ongoing covid-19 outbreak. It includes Rp75 trillion for healthcare spending, Rp110 trillion for social protection, Rp70.1 trillion for tax incentives and credit for enterprises, and Rp150 trillion for economic recovery programs, including credit restructuring and financing for small and medium businesses.