BI: Indonesia's Inflation Is Maintained Due To Consistency In Monetary Policy

Head of the BI Communication Department Erwin Haryono. (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) said inflation of the Consumer Price Index (IHK) in February 2024 was maintained in the target range of 2.5 plus minus one percent due to the consistency of monetary policy as well as the tight synergy of inter-party inflation control." Maintained inflation is the result of the consistency of monetary policy as well as the tightness of inflation control synergies," said Head of the BI Communication Department Erwin Haryono in Jakarta, quoted from Antara, Friday, March 1.Erwin said that in the future, Bank Indonesia believes inflation will remain under control in the target range of 2.5 plus one percent in 2024. Core inflation in February 2024 was recorded at 0.14 percent (mtm), lower than inflation in the previous month of 0.20 percent (mtm). The realization of core inflation was contributed mainly by inflation of cooking oil commodities, rice with side dishes, and gold jewelery. Annually, core inflation in February 2024 was recorded at 1.68 percent (yoy), stable from inflation the previous month. Meanwhile, volatile food group inflation increased. The volatile food group in February 2024 recorded inflation at 1.53 percent (mtm), higher than inflation in the previous month by 0.01 percent (mtm). The increase in volatile food inflation was contributed mainly by inflation of rice commodities, red chilies, and chicken eggs. The increase in inflation was further restrained by red onions, tomatoes and cayenne pepper. Annually, volatile food groups experienced inflation by 8.47 percent (yoy), an increase from inflation in the previous month of 7.22 percent (yoy).

Inflasi kelompok administered prices tercatat meningkat. Kelompok administered prices pada Februari 2024 mengalami inflasi sebesar 0,15 persen (mtm), meningkat dari bulan sebelumnya yang deflasi sebesar 0,48 persen (mtm).Peningkatan tersebut disumbang oleh inflasi sigaret kretek mesin sejalan dengan kenaikan cukai rokok yang ditransmisikan secara bertahap terhadap harga jual oleh produsen.Secara tahunan, inflasi kelompok administered prices menjadi sebesar 1,67 persen (yoy), menurun dari inflasi bulan sebelumnya sebesar 1,74 persen (yoy).