Bank Indonesia Predicts 0.58 Percent Inflation for January 2022

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Mahinda Arkyasa

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  • TEMPO.CO, Jakarta - Bank Indonesia predicted a 0.58 inflation (month-to-month/mtm) in January 2022. The prediction was made based on a survey on prices on the second week of January.

    "Inflation is at low and controlled level," said Head of Communication Department of Bank Indonesia Erwin Haryono in a written statement on Friday, January 14, 2022.

    With such development, the prediction on inflation for January 2022 is at 0.58 percent (year to date/ytd), and an annual rate of 2.20 percent (year on year/yoy).

    The main contributor for January 2022 inflation up to the second week was household fuel BBRT with a rate of 0.11 percent (mtm), chicken and egg with a rate of 0.08 percent (mtm) each; and rice, chili and tomato with a rate of 0.04 percent each (mtm). As for cooking oil and liquid/powdered detergent with a rate of 0.03 percent (mtm) each; shallot and filter cigarette with a rate of 0.02 percent (mtm) each; orange, garlic and instant noodle with a rate of 0.01 percent (mtm) each.

    Meanwhile, commodities that experienced deflation are red pepper (-0.04 percent mtm) and air transportation tariff with a rate of -0.02 percent (mtm).

    Erwin said that Bank Indonesia will continue to strengthen its coordination with the government and respective authority to carefully monitor the spread of Covid-19 and its effect on the Indonesian economy from time to time, and to take coordination steps related to following up policies that need to be taken to maintain macroeconomic stability and financial system.

    "And to support Indonesian economic growth to remain well and resilient," Erwin said.

    HENDARTYO HANGGI