KPPU Records Food Commodity Price Increase Ahead Of Eid al-Fitr
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29 April 2022 00:03 WIB
TEMPO.CO, Jakarta - The Business Competition Supervisory Commission or KPPU recorded that prices of cooking oil had increased by 22.9 percent ahead of the Eid al-Fitr celebration.
KPPU director of economy Mulyawan Ranamanggala said that "prices of cooking oil from 2016 up to 2021 had been stable but increased 8.43 percent in 2022 as Ramadan arrived and continue to increase by 22.49 percent ahead of the Eid al-Fitr holiday."
The increase in cooking oil prices is followed by the increases in other commodities such as beef, which increased by 0.33 percent and 7.6 percent ahead of Eid al-Fitr. Prices of beef is currently recorded at the highest level ever recorded in the past six years.
The increase was due to various factors, such as the disruption of supply following the forest fires in Australia.
KPPU also recorded an increase in sugar prices by 0.28 percent. Sugar prices had decreased before the Ramadan fasting period by 0.1 percent. Other staple food commodities that experienced slight price adjustments include flour, soybeans, and garlic, while commodities that have actually become slightly cheaper amid Ramadan are shallots and red peppers.
Mulyawan said the increase in food commodity prices was caused by increased demand or demand push inflation and limited supply or cost-push inflation. "The price increase caused by the cost-push is the focus," Mulyawan said.
FRANCISCA CHRISTY ROSANA
