The Government Is More Ready To Face The Lonjakan Inflation, During The November Period, It Is Believed That It Will Return To Normal

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - The government through the Deputy Minister of Finance, Suahasil Nazara, did not deny that the increase in oil fuel prices (BBM) some time ago would give its own part in increasing domestic inflation.

According to him, this is a fairly natural phenomenon considering that fuel is one of the basic components of community needs.

"Our inflation has increased, but the increase is relatively under control", he said when speaking at the Jakarta Global Financial Summit forum 2022, Wednesday, September 21.

However, the Deputy Minister of Finance is optimistic that the inflation rate is still maintained and has a great opportunity to slope ahead of the close of this year.

"We will continue to anticipate this September. Then when October can subside and it is hoped that in November it will return to the usual monthly trend", he said.

To note, the current inflation rate is above the government's target of 3 percent plus minus 1 percent. In the latest data in August 2022, inflation is known to be perched at 4.69 percent year on year (YoY). This level decreased slightly from the July 2022 record which had reached its peak with 4.94 percent.

The government itself is starting to be realistic with the latest inflation movement by turning the 2023 inflation target into the range of 3.5 percent to 4.5 percent.

Meanwhile, a number of efforts have been made to achieve this target, including strengthening the collaboration between the Central Inflation Control Team (TPIP) and the Regional Inflation Control Team (TPID), as well as providing fiscal incentives for local governments who are considered successful in controlling inflation in their respective regions.