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Jakarta Post

BI projects 0.10 percent inflation rate in March

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, March 22, 2019   /   05:16 pm
BI projects 0.10 percent inflation rate in March A beef vendor mans his kiosk at Pasar Minggu in South Jakarta. (Antara/Sigid Kurniawan)

Bank Indonesia (BI) has projected a 0.10 percent month-to-month inflation rate in March, or 2.47 percent year-on-year (yoy), after taking into account the result of a monitoring survey of prices up to the third week of this month.

“So, inflation is at a low rate and tending to decline. In January, the rate was 2.8 percent yoy and in February, the rate was at 2.57 percent yoy,” BI Governor Perry Warjiyo said on Friday as quoted by kontan.co.id.

The reduced inflation rate in March was caused by lower prices of many commodities in March compared to the prices in February, he said, adding that the price of some commodities had increased, such as shallots, garlic and chilies as well as the price of bottled water and air transportation.

“But the price increases were not too high,” he said, and the price of several commodities like chicken, eggs, vegetables and rice had gone down.

Perry said the low inflation rate also indicated the secure stocks of staple foods. He expressed his optimism that by the end of 2019, the inflation rate would be lower than 3.5 percent. (bbn)