Jakarta: After recording 0.16% (mtm) deflation in June 2021, Indonesia's Consumer Price Index (CPI) experienced 0.08% (mtm) inflation in July 2021, according to the Central Statistics Agency (BPS).
"Based on surveys conducted by BPS in 90 cities, inflation of 0.08% (mtm) was recorded," said BPS Chairman Margo Yuwono during a video conference here on Monday.
Annually, consumer price inflation stood at 1.52% (yoy) in June 2021, up from 1.33% (yoy) the month earlier.
Last month, the Bank Indonesia (BI) Board of Governors Meeting agreed to hold the BI 7-Day Reverse Repo Rate at 3.50%.
In addition, the central bank also decided to maintain the Deposit Facility (DF) rates at 2.75% and Lending Facility (LF) rates at 4.25%.
According to the central bank, the decision is consistent with the need to maintain exchange rate and financial system stability given elevated global financial market uncertainty amidst projected low inflation and efforts to revive economic growth impacted by the Covid-19 pandemic.
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