Bank Indonesia: Cooking Oil Top Contributor to August Inflation

TEMPO.CO, Jakarta - Bank Indonesia on Friday predicted August would log 0.01 percent month-to-month inflation due to price developments of a number of commodities such as cooking oil, tomatoes, broiler eggs and filter kretek cigarettes.

“With this development, the predicted inflation in August 2021 will be 0.82 percent year to date (ytd) and 1.57 percent year-on-year (yoy),” said Bank Indonesia's head of communications Erwin Haryono in his statement on Friday, August 27, s 

Citing Antaranews, based on Bank Indonesia’s Price Monitoring Survey (SPH) as of the fourth week of August, the largest contributors for this month inflation were cooking oil (0.03 percent), tomatoes with 0.02 percent, and broiler eggs and filter kretek cigarettes with 0.01 percent each. 

Meanwhile, commodities that experienced deflation consisted of cayenne pepper by -0.05 percent (mtm), red chili by -0.03 percent (mtm), kale, spinach, mustard greens, long beans, shallots, oranges, gold jewelry and intercity transportation each by -0 .01 percent (mtm).

Previously reported, Bank Indonesia Governor Perry Warjiyo said the inflation in 2021 would be at the level of 3 percent or 2-4 percent, which the government would try to sustain in 2022. 

Read: Jokowi Says Low Inflation Not Necessarily Good Thing

ANTARA