BPS: Impact Of The Two Months BBM Price Increase, After That It's Ladak

Illustration (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) said the increase in fuel oil prices (BBM) in early September had a significant impact on the formation of inflation.

Head of BPS Margo Yuwono said the surge in inflation is believed to be temporary (temporary) and will return to normal levels in the near future.

The increase in fuel prices (on inflation) is not only in the month concerned, but could have an impact on the following months. If you talk about trends or historical data, then an increase in one month, then the next month. So (the impact) the increase in fuel is only two months and the next will be sloping," he said when giving the presentation, Monday, October 3.

According to Margo, this belief reflects on the case study for the period November 2014 when the government decided to adjust the selling price of premium and diesel. At that time, inflation based on the consumer price index (IHK) immediately jumped to 6.23 percent year on year (yoy).

Then, inflation still rose again to 8.36 percent in December 2014, before it finally entered the sloping trend.

However, Margo does not guarantee that in the next two months the inflation level will drop.

The reason is, strategic efforts are needed from stakeholders to be able to brake the pace of increase so that it is more under control.

As I said, we are talking about what the previous trend was like. But the most important thing is that it all depends on how the government and Bank Indonesia policies can relieve inflation in the following months," he stressed.

For information, the IHK inflation book in September 2022 skyrocketed to 5.95 percent.

The score went far beyond the previous two months, namely August and July with 4.69 percent and 4.94 percent, respectively.

"September's inflation was the highest since October 2015 where at that time there was an inflation of 6.25 percent on an annual basis," said Margo.