Jakarta: Coordinating Minister for Economic Affairs Darmin Nasution has said that May 2019's inflation would be heavily influenced by air ticket prices.
"The prices are decreasinng now. But they are still quite high," Darmin told the press on Friday.
"It has happened over the past few months. It is not a new phenomenon," he remarked.
According to the Central Statistics Agency (BPS), inflation stood at 0.44 percent month-to-month (mtm) and 2.83 percent year-on-year (yoy). Based on data from the agency, it was primarily influenced by spice prices.
Last month, scallot 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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