Statistic bureau reported Indonesia posted an inflation at 0.13 percent in April 2021 compared to the previous month and in yearly basis stood at 1.42 percent - Photo: Special

JAKARTA (TheInsiderStories) – Statistic bureau reported Indonesia posted an inflation at 0.13 percent in April 2021 compared to the previous month and in yearly basis stood at 1.42 percent, the deputy announced today. Commodities became the largest contributors to the inflation.

“The contributors for the inflation included broiler chicken, cooking oil, oranges, gold jewelry, filter clove cigarettes, fresh fish and live chicken. Commodities that contributed to deflation included cayenne pepper, red chili and shallots,” said Setianto in a virtual conference on Monday (05/03).

Earlier, based on the Price Monitoring Survey in the fifth week of April, Bank Indonesia reported the inflation rate in April is estimated at 0.18 percent on monthly basis. With these developments, the inflation forecast for April at 0.63 percent on a calendar year and on an annual basis at 1.47 percent.

The main contributors to inflation were chicken, oranges, cooking oil, beef, and gold jewelry. Meanwhile, several commodities experienced deflation, including cayenne pepper, shallots, kale, spinach, rice and tomatoes.

The central bank said will continue to strengthen coordination with the government and relevant authorities to closely monitor the dynamics of the spread of COVID-19 and its impact on the Indonesian economy, as well as further policy coordination steps that need to be taken to maintain macroeconomic and financial system stability and the economic growth remains good and resilient.

The Bank rated, the global economic recovery is starting to show and is predicted to continue and the domestic economy shows gradual improvement. According to the central bank report, vaccination implementation and national policy synergy are predicted to boost momentum for future national economic recovery.

The policymakers predicted Indonesia’ economic growth in the range of 4.2 – 5.2 percent in 2021, with inflation predicted to remain under control within the 3.0 ± 1 percent target. While, the current account deficit is predicted to remain low at around 1.0 – 2.0 percent of GDP, thereby supporting resilience in the external sector of the Indonesian economy. On the other hand, the financing growth is estimated at 5 – 7 percent.

Written by Editorial Staff, Email: theinsiderstories@gmail.com