JAKARTA, Indonesia, Governor of Indonesia’s central bank, Bank Indonesia (BI), said, inflation in Jan was estimated to reach 0.48 percent, thanks to government’s successful administered policy.

The projected inflation resulted from BI’s price monitoring survey.

“Results from the survey, until the fourth week of this month, showed that inflation remains low. It was even lower than our initial prediction of 0.5 percent,” Perry said, in his office, here.

Perry said that, on year-on-year (yoy) basis, the inflation in Jan stood at 2.98 percent.

He added that, inflation that remained in control at low level resulted from the government’s effective administered price policy on core and food commodities during the month.

He, however, said that prices of certain foods and several commodities tend to rise, adding that, it was due to seasonal factor.

“Rainy season in these months may lead to production and harvest season of those food. Besides that, distribution problem has also added the difficulties to obtain those food commodities,” he added.

He pointed out that in general, inflation in Indonesia remained controllable at low level, expecting it would continue further to a level which is lower than the government’s target at 3.5 plus/minus one percent, at the end of this year.

Source: NAM News Network