JAKARTA - Bank Indonesia (BI) revealed that the current inflation rate tends to be maintained in accordance with the set targets.
BI Governor Perry Warjiyo said that this condition was an achievement in itself considering that currently a number of basic needs prices continued to increase. Not to mention when coupled with energy prices which also soared.
"It is undeniable that geopolitical pressures have increased pressures on prices, including food and energy prices," he said when holding a press conference for the Financial System Stability Committee (KSSK) today, Wednesday, March 13.
According to Perry, the ability to maintain inflation in a predetermined range is not without reason. He said, this cannot be separated from the active role of the government through various important strategies.
"The government through the Minister of Finance and the Minister of Economic Affairs continues to ensure that food supplies are maintained. As a result, Alhamdulillah, our inflation is still under control,” he said.
Perry added that the contribution of the special team formed by the government and the central bank together with related elements was considered to have played a significant role in controlling the movement of prices in the market.
"And of course monitoring and coordinating closely between the Central and Regional Inflation Control Teams so that food price stability is truly maintained," he asserted.
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For information, this year the government has set an inflation target in the range of 3 percent plus minus 1 percent.
Meanwhile, the Central Statistics Agency (BPS) release earlier this month revealed that in March 2022 there had been inflation of 2.64 percent year on year (yoy) or compared to March 2021.
Meanwhile, on a monthly basis (mtm), inflation in March 2022 was recorded at 0.66 percent or a significant jump from February 2022 with deflation of minus 0.02 percent.
Then on a calendar year basis or from January to March 2022, the inflation rate is 1.20 percent.
“Overall, BI's various assessments so far still believe that inflation can be maintained at the 2 percent to 3 percent target. But of course, Bank Indonesia and the government will continue to monitor the pressure of price increases in the future and how to coordinate, both in terms of monetary and fiscal terms, so that economic growth will improve,” Perry concluded.
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