Governments working to control inflation rates in countries and regions: minister

JAKARTA (ANTARA) – Coordinating Minister for Economic Affairs Airlangga Hartart said the government was making efforts to curb inflation at the national and regional levels.

Market operations are being organized involving various stakeholders to ensure affordability of commodity prices, and cooperation between regional authorities is being built to ensure the security of commodity supply. he added.

The coordinating minister said the government will optimize the use of digital trading platforms, provide freight rate subsidies to strengthen logistics movements, and promote the implementation of food factory programs.

“For example, we are taking several measures to anticipate higher demand in Chile, especially near the end of the year,” Hartart said on Thursday.

Local authorities have also formulated 10 basic and strategic food balances in their respective regions, he noted.

Local authorities will work with the National Food Agency to strengthen agricultural facilities and equipment, including storage facilities at farm production centres, he added.

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Mr Hartarto further said the central government will optimize transfers to the Community and Village Fund (TKDD) to increase food resilience.

In addition, a portion of the General Transfer Fund (DTU) will be used to control food prices, support social assistance and the transport sector.

Synergies between regional authorities of the Regional Inflation Management Team (TPID) will be promoted to control food inflation and stabilize food prices, the minister said.

“Governors, district chiefs and mayors[of the region]are recording above-average[inflation]rates and are urged to[optimize efforts]to bring inflation below 5% in the coming months.” he said. Consolidation of his TPID in the region was also sent to the regional leader.

Indonesia’s Bureau of Statistics Indonesia (BPS) data shows that as of August 2022, Indonesia is recording 0.21% month-on-month deflation, while year-on-year inflation is 4.69%, slightly lower than July. . This he was 4.94%.

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