Greater synergy between governments crucial for inflation control: BI

Greater synergy between governments crucial for inflation control: BI

Governor of Bank Indonesia (BI) Perry Warjiyo

Jakarta (ANTARA) - Bank Indonesia (BI) Governor Perry Warjiyo reiterated the significance of boosting synergy between the central and regional governments to maintain and control the inflation rate in 2019 at 3.5 percent, give or take one percent.

"The important point to be taken from the National Working Meeting this time is the synergy demonstrated in the past five years," Warjiyo remarked while opening the 2019 Inflation Control Meeting in Jakarta on Thursday.

Vice President Muhammad Jusuf Kalla, Coordinating Minister for Economy Darmin Nasution, and other officials attended the national coordination meeting, bearing the theme of synergy and innovation in controlling inflation for strengthening inclusive economy.

Related news: BI forecasts inflation rate to decelerate in July

Bolstering this synergy has backed efforts to control inflation through a strategy of price and supply availability, smooth distribution, and effective communication.

Furthermore, other efforts to maintain inflation control are through innovation adaptation, especially in terms of utilization of information technology.

He expressed hope that innovations in digital technology would cut short the supply chain to consumers and increase the value-add for farmers.

"To control inflation, there are digital technology innovations, related to production, distribution, and marketing, in the chain of inflation control processes, from upstream to downstream," Warjiyo noted.

Another effort is to open the innovation space and strengthen the inter-regional trade business model, one of which is by strengthening the role of the village.

Warjiyo noted that three aspects could strengthen efforts to control inflation, so that the target of 3.5 percent in 2019 and three percent by 2020 can be achieved.

The Central Statistics Agency (BPS) had earlier recorded a national inflation rate of 0.55 percent in June 2019, influenced by the hike in prices of chili and fresh fish.

Hence, the inflation rate for the January-June 2019 period was recorded at 2.05 percent, while the year-on-year (YoY) inflation rate reached 3.28 percent. Related news: Inflation was under control in June 2019

Related news: Red chilies, fish price hikes push June inflation


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