BI sees August inflation at 0.04%

BI sees August inflation at 0.04%

Illustration -  Logo of Bank Indonesia. (ANTARA/Dokumentasi BI)

Given the development, the calendar (year-to-date) inflation will reach 0.85 percent and year-on-year inflation will touch 1.60 percent.
Jakarta (ANTARA) - Price development in August 2021 will result in an inflation of 0.04 percent (month-on-month), Bank Indonesia (BI) has forecast citing the results of a survey conducted in the second week of the month.

"Given the development, the calendar (year-to-date) inflation will reach 0.85 percent and year-on-year inflation will touch 1.60 percent ” head of BI's communication department, Erwin Haryono, said in a written statement released on Friday.

As of the second week of August 2021, cooking oil, purebred chicken egg, and tomato contributed 0.02 percent to the inflation, respectively, he informed.

Meanwhile, onion and filter clove-blended cigarette each contributed 0.01 percent to the inflation, he said.

However, several commodities, including bird eye chili and red chili, recorded a deflation of 0.04 percent and 0.02 percent, respectively, Haryono informed.

Other commodities which recorded a deflation included purebred chicken meat, spinach, long beans, orange, gold jewelry, and inter-city transport fare, all of which fell 0.01 percent month-to-month, he said.

BI will keep strengthening its coordination with the government and the relevant authorities to monitor the spread of COVID-19, particularly its impact on the national economy, he added.

The central bank will also strengthen its policy to maintain macroeconomic stability and the financial system to support the national economic growth, he said.

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