Authority Prepares to Face Persistent Inflation

Low core inflation indicates public purchasing power is insufficient, prompting fiscal and monetary authorities to formulate hedging maneuvers, both for the demand and supply sides.

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3 Nov 2023 - 02.09
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Authority Prepares to Face Persistent Inflation

Illustration - Inflation rates.

Bisnis, JAKARTA — The latest Consumer Price Index (CPI) data, along with various external factors affecting the national economy, have spurred inflation upward for the remainder of the year.

Historically, inflation tends to rise towards the end of the year, triggered by the Christmas and New Year holiday seasons. The weakening of the rupiah is also a factor, significantly driving inflation in imported goods and food commodity prices.

Moreover, the geopolitical dynamics in the Middle East are undermining oil prices, thus pressing down on the purchasing power of the population, as seen in the latter half of last year.

Additionally, the World Bank, in its Commodity Markets Outlook of October 30, 2023, estimated that oil prices could potentially reach $90–157 per barrel if the geopolitical tension in the Middle East equals the oil crisis of 1973.

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Editor: Yusuf Waluyo Jati
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Authority Prepares to Face Persistent Inflation

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