Indonesia’s Central Bank Estimates 0.01 Inflation Rate in September

JAKARTA, KOMPAS.com – Indonesia's inflation rate remains low and under control, Bank Indonesia (BI) said on Friday.

Based on the price monitoring survey (SPH) in the fourth week of September 2020, the central bank has estimated the inflation rate at 0.01 percent this month.

“With the current development it is estimated that inflation rate for September in the calendar year 2020 stands at 0.95 percent (year-to-date), and on an annual basis at 1.48 percent (year on year),” executive director of the BI Communication Department Onny Widjanarko said in a press statement on September 25.

Onny explained that several commodities contribute to inflation, with cooking oil contributing 0.02 percent month on month, garlic, and red chili contributing 0.01 percent, respectively.

Also read: Finance Minister Expects Indonesian Economy to Grow 0.5 percent in Q3

Meanwhile, commodities that contribute to deflation were purebred chicken eggs at -0.04 percent, purebred chicken meat at -0.02, shallots at -0.02, orange, cayenne pepper, and gold jewelry at -0.01 percent.

Onny said the central bank will continue to strengthen its coordination with the government and relevant authorities to closely monitor the spread of the Covid-19 and its impact on the economy from time to time.

“BI will take necessary actions in advanced policy to maintain the stability of the macroeconomic and financial system as well as to support good and resilient economic growth in Indonesia,” he said.

(Writer: Fika Nurul Ulya | Editor: Yoga Sukmana)

Source: https://money.kompas.com/read/2020/09/25/172718826/bi-proyeksi-terjadi-inflasi-001-persen-pada-september-2020.