BI projects June inflation at 0.45%

BI projects June inflation at 0.45%

Bank Indonesia. (Foto Istimewa)

Based on the results of a price survey in the last week (of June), the inflation reaches 0.45 percent month-to-month, bringing the year-on-year inflation to 3.21 percent
Jakarta (ANTARA) - The inflation rate in June 2019 will decline to 0.45 percent from 0.68 percent a month earlier, Bank Indonesia (BI) has projected.

"Based on the results of a price survey in the last week (of June), the inflation reached 0.45 percent month-to-month, bringing the year-on-year inflation to 3.21 percent," Bank Indonesia Deputy Governor Dody Budi Waluyo said in Jakarta, Friday.

The June 2019 inflation was still influenced by food prices and intercity transport tariff hikes, he said.

"Several causes of (the June 2019) inflation were still brought about by an increase in the price of chilies and intercity transport tariff. But these all show a downward trend," he said.

Overall, the 2019 inflation will stay within the target range of 3.5 percent, plus and minus one percent, he said.

"BI is quite optimistic that the year-end inflation will stay within the target range or even fall short of the target of 3.5 percent, meaning that the public's purchasing power can still be maintained," he said.

The inflation rose 0.68 percent in May 2019, fueled by public consumption during the fasting month of Ramadhan, the Central Statistics Agency (BPS) announced earlier.

The May 2019 inflation brought the calendar inflation (January-May 2019) to 1.48 percent and year-to-year inflation to 3.32 percent.

The inflation in June 2018 was recorded at 0.59 percent, fueled by the food price hike. (INE)

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