JAKARTA - Minister of Finance (Menkeu) Sri Mulyani firmly stated that the pressure on domestic inflation continues to decline.
He explained that the inflation of the Consumer Price Index (JCI) fell to 4.33 percent year on year yoy in April 2023 or during the Ramadan and Eid al-Fitr periods.
"The level is much smaller than December 2022 or the end of last year which was 5.51 percent," he said earlier this week.
According to the Minister of Finance, core inflation continued to slow down to 2.83 percent yoy due to declining inflation and imported inflation expectations, as well as adequate aggregate supplies in response to rising demand.
Meanwhile, volatile food inflation remained under control, which was at 3.74 percent on an annual basis last month.
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"The continued decline in inflation is the positive impact of Bank Indonesia's (BI) monetary policy which is pre-emptive and forward looking," he said.
In addition, continued the Minister of Finance, this conducive situation is the result of a close synergy in controlling inflation between BI and the government (central and regional).
"This can be seen from our cooperation through strengthening the National Movement for Food Inflation Control (GNPIP) in various regions," he said.
For information, this year the target for IHK inflation and core inflation is 3 percent plus minus 1 percent. Meanwhile, this target has been achieved in terms of core inflation and continues to be pursued for IHK inflation in the period August 2023.
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