Inflation 2023 Down To 2.61 Percent, Minister Of Trade Zulhas: The Lowest Throughout Reform

Minister of Trade Zulkifli Hasan. (Photo: Doc. ANTARA)

JAKARTA - Trade Minister Zulkifli Hasan (Mendag Zulhas) said that the total inflation in 2023 of 2.61 percent was the lowest since 1999 or after reform, which was 2.01 percent.

"During 2023 inflation 2.61 percent, December 0.41 percent. This is the lowest during the reforms," said Zulhas as quoted by ANTARA, Thursday, January 4.

Zulhas said, the key to success in reducing inflation is to go directly to the market to monitor and monitor the prices of basic goods (bapok).

Throughout 2023, he continued, the Ministry of Trade intensively conducts 679 markets in 503 regencies/cities through the Market Monitoring System and Basic Needs of the Ministry of Trade (SP2KP).

The Ministry of Trade is also working with the Logistics Affairs Agency (Bulog) and the National Food Agency (Bapanas).

"The Ministry of Trade coordinates with the Food Agency, the government and the regions because the price of chili is high, and transportation can be handled by the APBD which is called a reserve fund, which is called an unexpected disaster. In addition, we also ensure that commodities originating from abroad arrive on time," he said.

Zulhas said the government targets inflation to be at 1.5-3.5 percent by 2024.

The Central Statistics Agency (BPS) noted that the Indonesian economy experienced 0.41 percent inflation in December 2023 when compared to the Consumer Price Index (IHK) the previous month (month-to-month/mtm).

There was an increase in the JCI from 116.08 in November 2023 to 116.56 in December 2023.

With these developments, year-on-year inflation reached 2.61 percent (year-on-year/yoy) and inflation for calendar year 2, 61 percent (year-to-date/ytd).