First-week inflation rate stands at 0.5 percent: BI

First-week inflation rate stands at 0.5 percent: BI

Bank Indonesia (BI) (ANTARA)

Jakarta, (ANTARA News) - Bank Indonesia (BI) announced on Friday that inflation rate in the first week of January 2019 stood at 0.5 percent, bringing the year-on-year inflation to 3.03 percent.

"The inflation rate is relatively good. The result of a survey conducted to monitor prices in the first week (of January 2019) shows the inflation rate was about 0.5 percent, bringing the year-on-year inflation to 3.03 percent," BI Deputy Governor Dody Budi Waluyo stated after the Friday prayers at the BI office complex here on Friday.

The increase in prices of several commodities, including chicken, eggs, chili, and onion, contributed to the inflation. However, inflationary pressure from volatile foods was as relatively stable as the previous year, he remarked.

"Compared to last year, no major change in the inflationary pressure was recorded," he said.

BI remains optimistic that the inflation could be maintained in its target range of 2.5-4.5 percent.

The central bank has also taken into account the possibility of the government raising fuel prices this year.

"Admittedly, there would be an inflation risk if the government were to release the fuel oil policy. If the domestic fuel oil prices are to be adjusted, it is still calculated in the mid-target for 2019," he added.

Reporting by Citro Atmoko
Editing by Suharto
 

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