Airlangga Calls Indonesian Inflation One Of The Lowest In The G20 Country

Coordinating Minister for the Economy Airlangga Hartarto (Photo: Aris Nurjani/VOI)

Coordinating Minister for Economic Affairs Airlangga Hartarto revealed that Indonesia's inflation rate in 2023 which reached 2.61 percent was one of the lowest among countries with a large economy to join the G20 and only lost to Japan, Saudi Arabia, Italy and China.

For information, Indonesia's 2023 annual inflation rate is 2.16 percent, lower than in 2022 which amounted to 5.51 percent. Meanwhile, monthly inflation in December 2023 was recorded at 0.14 percent.

"We see that compared to other countries, we are one of the countries with low inflation," Airlangga told the media crew, Monday, January 29, 2024.

Furthermore, Airlangga said, Indonesia's inflation rate is lower than other G20 countries such as Argentina, Turkey, Russia, India, to the United States (US).

"The ones below us are only Japan, which numbers are similar to us, then Saudi, Italy and China," he explained.

Airlangga conveyed that the realization of inflation in 2023 was maintained in the government's target of 3.5 percent plus minus 1 percent.

"Of course, good cooperation between the central government, local governments, this is an example of solid cooperation," he said.

As for this year, the government targets inflation to be around 2.5 percent plus minus 1 percent in 2024 from previously in the range of 3 plus minus 1 percent in 2023.

To pursue this target, the government has prepared several strategies, ranging from formulating monetary and fiscal policies, controlling commodity prices, to providing social assistance (bansos) food and cash to the public.

"In the future, of course, it is hoped that the inflation target can be achieved in accordance with the 2024 target," said Airlangga.