TEMPO.CO, Jakarta - Bank Indonesia (BI) Jakarta chapter predicts that commodity prices and inflation throughout September will be under control and that the Eid al Adha feast will not drive drastic price hikes.
“The inflation will only happen at the end of 2017, which will coincide with Christmas and New Year’s holidays,” said Fadjar Majardi, Deputy Head of Bank Indonesia’s Jakarta Representative yesterday, September 4.
Read: August Inflation Expected to be Low
The central bank continues to coordinate with Jakarta administration and regional owned enterprises to monitor and suppress the 2017 inflation through TPID, the regional inflation controlling team.
Fadjar explains that some TPID programs must coincide with the programs run by Bank Indonesia and each regional provincial government, especially regarding the food distribution and security.
“A stable inflation will boost Jakarta’s economic development and improve people’s welfare in general,” said Fadjar.
He added that Jakarta’s inflation rate dropped to 0.13 percent (month-to-month) in August, it is also lower compared to the average rate of previous three years; 0.34 (month-to-month). Meanwhile, the inflation rate of the administered price group slightly increased since early 2017 to 2.86 percent.
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