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BI Predictions for inflation 2016 Under 3.5 Percent

Jakarta (Benchmark News) – Bank Indonesia’s Senior Deputy Governor, Mirza Adityaswara said that national inflation throughout this year is estimated to be below 3.5 percent.

“Until September inflation reached 1.97 percent and estimated inflation rate for the year 2016 are estimated under 3.5 percent,” said Mirza, in Jakarta on Tuesday.

He mentioned, inflation nationally of 3.3 percent in 2015 and this year’s inflation rate was estimated at it.

According to him, the inflation is still driven by the rise in a number of commodity goods, mainly foodstuffs and food so. Inflation is also related to production and the smooth distribution of goods, commodities, foreign exchange rate continue to weaken as well as several other indicators.

Mirza mentioning, to keep the inflation is not too high, the task of the BI one monetary stability through maintaining control of inflation from supply side.

In addition, Bank Indonesia to monitor hundreds of prices of a number of commodities to find out the level of development as well as price inflation.

“There are about 800 kinds of goods that monitored the price to keep the inflation is not too high,” said Senior Deputy Governor of Bank Indonesia then.

BI he continued every week doing a survey of a number of these types of commodities to know the development cost.

“Commodity food that often cause the onset of inflation, namely rice, chilli, onions, meat, and more,” according to him, Indonesia’s inflation due to rising number of goods mainly foodstuff and food so considering the income of its people mostly depleted used to buy groceries.

In contrast to developed countries are earning high society, so that their money is being used to shop for groceries or food so, only a fraction of their income.

Mirza describes to control inflation is not too high in other ways by keeping production, ditaribusi and development of commodity-related information.

Therefore, he continued, BI do good government coordination with the Center as well as an area to keep inflation stable.

How to do a collaboration with Regional Inflation Control Team (TPID) which until now has been formed as many as 497 TPID throughout Indonesia.

TPID based on the principle of 4 k (the availability of supply, smooth distribution, affordability of prices, and strategic communication in managing the expectations of society), the local authorities must be committed in mapping the production and availability of supply.

Next, perform regular meetings TPID to do the discussion of price stability and price fluctuations as well as the anticipated report to TPID Then, compiling a database of food and commodity prices are the main commodities, as an early warning system against price fluctuations in the form of strategic food price information center, as well as the establishment of a roadmap TPID medium and long term…(Red)

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