Statistics Indonesia reported the inflation rate in March 2020 stood at 0.1 percent from prior month 0.28 percent. Year to date the inflation at 0.76 percent and in annual basis 2.96 percent - Photo: Privacy

JAKARTA (TheInsiderStories) – Statistics Indonesia reported the inflation rate in March 2020 stood at 0.1 percent from prior month 0.28 percent. Year to date the inflation at 0.76 percent and in annual basis 2.96 percent.

“The inflation occurred in 43 cities and deflation in 47 cities,” said head of the agency, Suhariyanto in a video conference, on Wednesday (04/01).

He added, the highest inflation occurred in Lhokseumawe, Aceh, triggered by rising fish prices stood at 0.64 percent. He also noted that there was deflation in Timika, West Papua, minus 1.91 percent, which was triggered by a reduction in air freight rates throughout March.

“The highest deflation in Timikia is minus 1.91% due to the decline in air transport tickets,” he said.

According to Suhariyanto, the March 2020 inflation was contributed by the increase in the price of fresh fish and gold.

Early, Bank Indonesia (BI) reported the food prices also stable in the middle of pandemic. Based on the central bank monitor, until third week of March, monthly inflation was kept low at 0.11 percent compared to prior month and in annual basis at 2.98 percent.

Warjiyo said, the decision consistent with the central bank target to controlled the inflation within the target range, safe external stability, and as a pre-emptive step to maintain the momentum of domestic economic growth amidst the prospects of global economic recovery in connection with the occurrence of COVID-19.

He adds, the monetary operations strategy continues to maintaining adequate liquidity and supporting the transmission of an accommodative policy mix. Beside, accommodative macro-prudential policies were taken to encourage economic financing in line with the sub-optimal financial cycle while still observing the precautionary principle.

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