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Govt aiming to ease inflationary pressure ahead of Ramadhan
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Investment Coordinating Board (BKPM) head Thomas “Tom” Lembong (left) listens to Trade Minister Enggartiasto Lukita during the BKPM National Coordination Meeting in Nusa Dua, Bali, recently. (Antara/Nyoman Budhiana)
T
he government is trying to maintain a stable level of prices, particularly of food commodities, ahead of the Islamic fasting month of Ramadhan, which will commence in late May, in an effort to keep inflation within its target this year.
A number of ministers discussed the issue in a meeting on price controls at the Coordinating Economic Ministry on Wednesday to ensure adequate food supplies during seasonal rising demand during Ramadhan and the Idul Fitri festivities afterward.
“[The issue] is still related to distribution in several places. Today, I will gather all [food distributors] to discuss the issue,” said Trade Minister Enggartiasto Lukita after the meeting.
(Read also: Indonesia experiences 0.02 percent deflation in March)
President Joko “Jokowi” Widodo previously instructed his ministers to reduce the prices of staple foods before Ramadhan, especially beef, which has yet to decline to its target price of Rp 80,000 (US$ 6.03) per kilogram from the current level of over Rp 100,000 per kg in several places.
Indonesia experienced deflation of 0.02 percent in March because of a harvest season that helped push down the prices of several major food commodities, bringing annual inflation to 3.63 percent, according to the Central Statistics Agency (BPS).
A little outside of market consensus, it was the first deflation this year after the inflation rate of Southeast Asia's largest economy rose 0.97 percent in January and 0.23 percent in February.
Bank Indonesia (BI) is aiming for inflation in 2017 to hover around 3 to 5 percent. (bbn)
