Jakarta: Bank Indonesia (BI) Perry Warjiyo is optimistic that prices of goods and services will still be under control in March 2020.
"According to our observation until the third week of March 2020, inflation in March 2020 is predicted to reach 0.11 percent month-to-month (mtm) and 2.98 percent year-on-year (yoy)," the BI Governor said here on Tuesday, March 24, 2020.
Consumer price index (CPI) inflation stood at 0.28 percent (mtm) in February 2020. It was down from 0.39 percent (mtm) one month earlier.
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According to the central bank, lower headline inflation stemmed from decreasing core inflation, administered prices deflation and slower inflation of volatile foods.
Annually, therefore, low CPI inflation was recorded at 2.98 percent (yoy) in the reporting period. It was up slightly from 2.68% percent (yoy) in January 2020.
Moving forward, BI is ready to consistently maintain price stability and strengthen policy coordination with the central and local governments to ensure inflation in 2020 remains low and stable within the target corridor, namely 3.0 percent plus minus one percent.