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Indonesia’s inflation likely to top 4% next year

The high inflation rate in Indonesia is likely to continue in 2023, as Bank Indonesia (BI) projects that prices will remain at a high level.
Indonesia’s inflation likely to top 4% next year ảnh 1BI Governor Perry Warjiyo (Photo: AFP)
Jakarta (VNA) - The high inflation rate inIndonesia is likely to continue in 2023, as Bank Indonesia (BI) projects thatprices will remain at a high level.

BI Governor Perry Warjiyo recently warned that the inflationrate may hover above its targeted 2 to 4% next year.

There is a risk that inflation may exceed the upper limit ofthe target range of 3 plus/minus 1%, as food and energy prices will likelyremain high while continued increase in demand will add more pressure toinflation, he said.

As of July, the country’s inflation had reached 4.94% due to higher prices offood, and managed services and goods such as air tickets and fuels.

On August 18, Coordinating Economic Minister AirlanggaHartarto affirmed that, with all available measures, the government isdetermined to reduce inflation in 2022 to 4-4.8 percent, lower than July’s4.94%./.
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