Bank Indonesia Predicts 0.48 Inflation in May 2022

TEMPO.CO, Jakarta - Bank Indonesia predicted a 0.48 percent inflation on May 2022. The prediction was based on the Price Monitoring Survey conducted on the second week of May 2022.

"Inflation is currently at a low level and is controllable," said Head of Communication Department of Bank Indonesia Erwin Haryono in a written statement on Friday, May 13, 2022.

The prediction means that inflation prediction for May 2022 is at 2.65 percent year-to-date (ytd), and 3.64 percent year-on-year (yoy).

The main contributor to the May 2022 inflation up until the second week of May is chicken meat commodity and air transportation with each 0.08 percent (month-to-month), chicken eggs and intercity transportation
with each 0.04 percent (mtm), beef with 0.02 percent (mtm), shirmp, coconut, orange, mustard greens, water spinach, tempe, tofu, bottled water, each with 0.01 percent (mtm).

Meanwhile, commodities experiencing deflation for this week are cooking oil and cayenne pepper with -0.01 percent (mtm)

Erwin said that Bank Indonesia will continue to strengthen coordination with the government and respective authorities to continue pushing for economic growth in the middle of increasing external pressures.

"And continue to optimize policy combination to maintain macroeconomic stability and financial system to support further economic recovery," Erwin said.

MUHAMMAD HENDARTYO