Bank Indonesia Forecasts January Inflation at 0.34%



Mahinda Arkyasa

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  • TEMPO.CO, Jakarta - Bank Indonesia (BI) predicts 0.34 percent monthly inflation for January 2021. The forecast comes from the results of the Price Monitoring Survey in the fourth week of January 2021.

    "Inflation is at a low, controlled level," the central bank's head of communication Erwin Haryono said in a written statement, Friday, January 29, 2021. 

    Erwin said that BI will continue strengthening coordination with the government and relevant authorities to carefully monitor the dynamics of Covid-19 transmission, and what impacts it has on Indonesia's economy.  

    "As well as taking necessary steps for policy coordination in order to maintain macroeconomic and financial system stability, as well as sustain Indonesia's economic growth to remain sound and resilient," he said.

    With these developments, the inflation forecast for January 2021 is estimated at 0.34 percent, year-to-date. The annual inflation estimate is at 1.64 percent, year-on-year.