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BI: Inflation remains low and supports economic stability

22 September 2021 08:38

JAKARTA - Perry Warjiyo, Governor of Bank Indonesia in a press conference yesterday (21/9) explained that Indonesia's inflation remains low and supports economic stability.

"Consumer Price Index (CPI) in August 2021 recorded inflation of 0.03% (mtm) so that CPI inflation until August 2021 reached 0.84% ​​(ytd). Annually, CPI inflation was recorded at 1.59% (yoy), an increase compared to the previous month's inflation of 1.52% (yoy),” explained Perry Warjiyo.

Core inflation was maintained at a low level in line with the lack of strength in domestic demand, maintained exchange rate stability, and the consistency of Bank Indonesia's policies to direct inflation expectations within the target range. Inflation in the volatile foods category increased slightly due to the increase in cooking oil commodity prices in line with the increase in global CPO prices amid adequate supply of goods.

Administered prices inflation also increased slightly in line with the continuing impact of the tobacco excise hike. Bank Indonesia is committed to maintaining price stability and strengthening policy coordination with the Government, both at the central and regional levels through the Inflation Control Team (TPI and TPID), in order to keep CPI inflation within the target range of 3.0±1% in 2021 and 2022. (LM)

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