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BI Governor Claims Indonesia's Inflation Has Dropped in Last 10 Years

14 June 2024 19:40 WIB

TEMPO.CO, JakartaBank Indonesia (BI) Governor Perry Warjiyo said Indonesia's inflation rate has been declining and controllable for the last 10 years. “It is even among the lowest in the world at the moment,” he said at the 2024 National Coordination Meeting on Inflation Control with President Joko Widodo or Jokowi at the Jakarta State Palace on Friday, June 14.

Based on data released by Indonesia Statistics (BPS), the inflation rate for the Consumer Price Index (CPI) in May 2024 was recorded at 2.84 percent. This figure was maintained within the target range of 2.5 plus or minus 1 percent. “In most regions, inflation is also within the target range.”

Perry said the maintained inflation was attributable to the close synergy between the central and regional governments and consistent policies. It was also thanks to great coordination between the central and regional inflation control teams (TPIP and TPID), as well as the National Movement to Control Food Inflation (GNPIP).

BI estimated that the inflation rate could be maintained within the target range for the rest of 2024 to 2025. “We believe that low inflation is an extremely crucial factor for sustainable economic growth and the welfare of the Indonesian people,” Perry concluded.

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