Indonesia’s inflation could surpass GDP growth

September 16, 2022 | 08:00

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Indonesia could potentially record higher inflation than economic growth in the third quarter of this year, said Coordinating Minister for Economic Affairs, Airlangga Hartarto on September 14.

Jakarta - Indonesia could potentially record higher inflation than economic growth in the third quarter of this year, said Coordinating Minister for Economic Affairs, Airlangga Hartarto on September 14.

Indonesia’s inflation could surpass GDP growth

Indonesian Coordinating Minister for Economic Affairs, Airlangga Hartarto (Photo: Antara)

During a central and regional coordination meeting for inflation control, Hartarto said food prices must be controlled, especially through food cooperation between regions.

For the last four months of this year, Indonesia has an inflation target of below 5% for commodities, he informed. This is based on the inflation in the energy sector, which could range from 1.6 to 2.0 percent.

According to him, an increase in fuel prices led to the government raising the amount of subsidies.

The minister also asked regional heads to strengthen cooperation to maintain price stability and improve food security.

He informed that the government has formed a special food agency to handle food inflation.

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By VNA

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