BI: July's Inflation Stands at 0.8 Percent  

TEMPO.CO, Jakarta - Bank Indonesia (BI) said that as per the fourth week of July 2015, Indonesia's month-to-month (mtm) inflation stands at 0,8 percent, or 7.13 percent year-on-year (yoy).

"Inflation had stood at 0.5 percent, but went up to 0.8 percent on the fourth week," said BI Governor, Agus Martowardojo, at BI Complex on Friday in Jakarta.

Agus said that given the mtm inflation in the past half decade, which hovers around the 0.86 percent mark on the month of July, it could be said that the levels are not beyond the control of the government.

"We had initially predicted that inflation will stand at around the 1.12 percent mark - which is a pretty good sign," said Agus, who said that he remains optimistic that Indonesia's inflation will remain somewhere around the four percent mark - give or take one percent.

When asked about the threat El-Nino poses on the Indonesian economy, Agus said that BI has coordinated - both with the central and local government - to anticipate and minimize whatever impact it may have on the economy. "We have asked all stakeholders to remain vigilant over supply levels, as this will definitely impact our inflation rate," he said.

Agus stressed the importance of ensuring that supply chains - especially chains relating to basic necessities - remain uninterrupted, in order to keep prices from spiralling out of control. 

ANTARANEWS