TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

BI cuts July inflation forecast to 0.74%

News Desk (The Jakarta Post)
Jakarta
Sat, July 30, 2016

Share This Article

Change Size

BI cuts July inflation forecast to 0.74% Lower inflation: A woman buys vegetables at a kiosk in a traditional market in Jakarta recently. Bank Indonesia (BI) said on Friday it lowered its July inflation forecast to 0.74 percent from 1 percent. (Tempo/-)

B

ank Indonesia (BI) has changed its forecast for July's inflation rate to 0.74 percent from 1 percent as a result of declining prices of several staple-food commodities.

BI governor Agus Martowardojo said in Jakarta on Friday that the prices of several food commodities, including eggs, had fallen, which contributed to the lower inflation forecast for July.

“In the third week of this month, our forecast was 1 percent inflation, but we slashed it to 0.74 percent in the fourth week because of the falling prices of several staple foods,” Agus told journalists.

The central bank earlier said it would coordinate with regional inflation-controlling teams to stabilize basic commodity prices. It had also predicted this year’s inflation would peak in July partly following the government’s plan to increase electricity rates.  (vny/ebf)

{

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.