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BI confident 2020 inflation target can be achieved

03 January 2020 13:59

JAKARTA. Bank Indonesia (BI) is confident that the 2020 inflation target within the range of 2% to 4% can be achieved following the positive response to the 2019 inflation rate, which was within the early target range.

According to Director of BI's Communication Department Muhamad Nur, inflation realisation was within the range of BI's target at 2.5%-4.5%, which was related to the central bank's consistency in maintaining the stability of commodity prices.

"This was also supported by the strong policy synergy between Bank Indonesia and the government, both at regional and central levels," said Mr Nur in an official statement, Friday (3/1).

Although increasing in line with the seasonal pattern compared to the November 2019 inflation of 0.14% month to month (mtm), the December 2019 inflation of 0.34% mtm was lower compared to the average consumer price index (CPI) inflation of 0.68% mtm in the last four years. The development was supported by the stable core inflation at 0.11% mtm.

Meanwhile, volatile food inflation remained under control, albeit higher at 0.86% mtm. Administered prices inflation remained low with a slight increase from 0.03% to 0.63% mtm.

With the achievement, the 2019 annual inflation was lower compared to 3.13% in 2028. (AM/MS)

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