5.95 Percent Flying Inflation, The Government Asks The Community To Take Part In Keeping Prices

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - The government through the Deputy Minister of Finance (Wamenkeu) Suahasil Nazara asked all elements of society to participate in price stability so that the inflation rate remains under control.

He made this statement after the release of the Central Statistics Agency (BPS) which reported that inflation based on the consumer price index (IHK) was at the level of 5.95 percent year on year (yoy).

Last month, the government raised the price of fuel oil (BBM), transferring subsidies. This is proof that yesterday when we raised the price of fuel, all elements of society, including local governments, maintained prices in their respective regions," he said in a written statement earlier this week.

According to Suahasil, the government understands that when fuel prices are adjusted, inflation will increase but not out of control. He believes month-to-month inflation next month will decline and start heading back to normal.

"This is a good fundamental for the Indonesian economy in completing 2022 and entering 2023," he said.

On the other hand, the Purchasing Manager's Index (PMI) increased from 51.7 in August 2022 to 53.7 in September 2022.

This condition is a separate signal that shows the business world starting to stock up or start buying goods, which means the production process will also increase.

"This is a good fundamental and we must protect it together. The central government and our local governments will continue to maintain it," concluded Deputy Minister of Finance Suahasil Nazara.