Some countries are already experiencing food scarcity, thereby causing food prices at the consumer level to rise, Jokowi noted.
"If we see the figures (in January 2022), (food price inflation) in Russia rose to 12.3 percent, the US to 6.9 percent, and Turkey to 55 percent. Alhamdulillah, we are still at three (percent)," the president remarked virtually during an open session of the Academic Senate of the 46th Anniversary of Sebelas Maret University (UNS), as witnessed here on Friday.
Jokowi explained that in addition to the paucity of food, the world was also experiencing energy scarcity. In 2020, he affirmed that oil prices were still at around US$60 per barrel.
However, with the ongoing COVID-19 pandemic and the Ukraine-Russia war, crude oil prices in March 2022 had doubled to US$115 per barrel and also climbed to US$130 per barrel last week.
Currently, Jokowi highlighted that Indonesia was still maintaining the selling price of energy and food for the community.
"Most countries have increased the selling price for the community. We still maintain it. (I urged) Mrs. finance minister on how long we should maintain it," the president stated.
The president stressed that Indonesia was fortunate to still be able to control the inflation as compared to other countries that had even touched double-digit inflation.
In January 2022, Russia's inflation was recorded at 8.7 percent; India, at six percent; the United States, at 7.5 percent; the European Union, at 5.1 percent; and Turkey, at 48.7 percent. Meanwhile, the increase in inflation in Indonesia during the same period was only at 2.2 percent.
Hence, Jokowi emphasized the need for food and energy stability through economic transformation.
Economic transformation is through the downstreaming of industries by optimizing production of semi-finished and finished goods rather than producing raw materials in mining and agricultural commodities.
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Translator: Mentari G, Kenzu T
Editor: Sri Haryati
Copyright © ANTARA 2022
