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BI records 0.59% inflation in first week of Ramadhan
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A vegetable vendor waits for customers at Ciputat Market, South Tangerang. Bank Indonesia recorded inflation of 0.59 percent in the first week of June, which was also the first week of Ramadhan this year, amid increasing demand for staple foods. (ANTARA FOTO/Teresia May)
Bank Indonesia (BI) saw inflation of 0.59 percent in the first week of June, which was also the first week of Ramadhan this year.
BI Governor Agus Martowodojo said the central bank would continuously monitor coordination between the central government and regional administrations on controlling inflation by maintaining staple food supplies amid increased demand during Ramadhan and Idul Fitri.
"Based on our survey in the first week on June, inflation stood at 0.59 percent, still in line with our target," he said in Jakarta on Friday.
Earlier, the central bank warned that skyrocketing staple food prices during Ramadhan and Idul Fitri would put serious pressure on inflation in June and July. Therefore, the government must secure supplies of staple commodities.
Indonesia's consumer price index (CPI) recorded inflation of 0.24 percent in May, while volatile foods recorded monthly inflation of 0.32 percent, and 0.95 percent on an annual basis.
Year-to-date inflation stands at 0.4 percent with annual inflation at 3.33 percent, which is within the central bank’s target for this year of 3 to 5 percent. (ags)
