Trade

Bank Indonesia expects inflation of 3.4 percent this year

Bank Indonesia (BI) expects inflation of 3.4 percent this year, lower than last year’s rate of 3.61 percent and comfortably within the central bank’s target range.

Speaking at a central banks forum in Nusa Dua, Bali, on Wednesday, BI Governor Perry Warjoyo said joint efforts by the central bank and the government to stabilize administered prices and the prices of main commodities had helped curb inflation.

BI has targeted inflation in the rate of 2.5 percent to 4.5 percent. “I am optimistic that this year, inflation will be lower than the middle target of 3.5 percent,” said Perry, as quoted by kontan.co.id.

He said the central bank also recorded controllable prices of commodities in the market in the early days of October, with some prices actually having come down recently.

Previously, Statistics Indonesia (BPS) reported a 0.18 percent decrease in consumer prices in September, following virtually stable prices in August and a 0.28 percent increase in July. (bbn)

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