Bank Indonesia Disrupts Farmers' BPung Apps For Inflation Inflation In Bali And Nusa Tenggara

Photo: Capture the Youtube screen of Bank Indonesia

JAKARTA Bank Indonesia (BI) together with the Bali Nusa Tenggara (Nusra) Regional Inflation Control Team (TPID) launched the innovation of the National Food Inflation Control Movement (GNPIP) through the B'Pung Farmers application.

It is stated that this step is aimed at optimizing the mapping of agricultural commodity production and distribution in the East Nusa Tenggara region, and can then be replicated in other areas.

Bank Indonesia Senior Deputy Governor Destry Damayanti said the development of digitalization of farmer business management data is the key to achieving food security and price stability.

"The development of this application is a form of synergy between Bank Indonesia and the local government which will connect farmers, business actors and stakeholders in supporting the sustainability of food production in the future," he said through an online channel on Friday, December 9.

According to Destri, this synergy is expected to play a positive role in maintaining price stability, which will support people's purchasing power and national economic recovery.

The impact of strengthening synergies has been felt as reflected in the inflation of the November 2022 Consumer Price Index (CPI) by 5.42 percent year on year (yoy). This figure decreased from October 2022 which was 5.71 percent," he said.

Destri also said that volatile foods experienced a similar trend by dropping to the level of 5.7 percent yoy, after peaking in July by 12 percent.

"The core inflation has also started to stabilize at the level of 3.30 percent year on year from last month which was 3.31 percent," he said.

Destry said that through various policies and strengthening synergies, his party is optimistic that inflationary pressures will decrease and return to the target of 3 percent plus minus 1 percent by 2023, with core inflation returning early in the first half of 2023.

"We must encourage the synergy of developing agricultural data digitization as has been done by TPID NTT through the BPung Farmers' application in building food security in the regions," he said.