2011 Inflation Below Target: BPS

02 January, 2012 | Source: The Jakarta Post

The Central Statistics Agency (BPS) reported on Monday that the country′s inflation rate reached 3.79 percent in 2011, far below the government′s assumption of about 5.65 percent.

In December alone, inflation stood at 0.57 percent, BPS head Suryamin said.

He added that foodstuffs were the biggest contributor to the year-on-year inflation rate with 1.62 percent, followed by food, beverages and tobacco that contributed 0.5 percent.

“Almost all cities [in Indonesia] posted inflation,” he said as quoted by Antara.

 

President Joko Widodo (Jokowi) said Indonesia already enters years of low inflation, with inflation around 3 percent in the past two years.
President of the World Bank group, Jim Yong Kim, here on Tuesday expressed his support to the Indonesian governments plan on the tax reform program, which aimed to increase the state budgets income.
President Joko Widodo (Jokowi) plans to visit Turkey to develop partnership in strategic industry and economy with the country, Foreign minister Retno Marsudi said here on Monday at the state palace after a meeting prior to the presidents visit to Turkey and Germany.
Indonesian Foreign Minister Retno Marsudi and her Maldivian counterpart Mohamed Asim will hold a bilateral meeting in Jakarta on Wednesday (June 21) to discuss the cooperation in tourism sector.
The United Nations Food and Agriculture Organization (FAO) has praised Indonesia for its role in fighting illegal, unreported, unregulated (IUU) fishing, the Indonesian Embassy in Rome said.
Indonesias real GDP growth is projected to increase from 5.2 percent this year to 5.3 percent in 2018, according to the World Banks June 2017 Indonesia Economic Quarterly.
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