Indonesia: Synergy between TPIP and TPID to face potential price increases ahead of Eid Al-Fitr

Indonesia

Market & Price Trends

Published Mar 28, 2024

Tridge summary

Ahead of Eid al-Fitr 2024, Bank Indonesia (BI) stresses the need for a collaborative effort among Central and Regional Inflation Control Teams (TPIP and TPID) and the National Movement for Food Inflation Control (GNPIP) to mitigate potential food price hikes. BI Deputy Governor, Doni Primanto Joewonodi, points out the seasonal trend of increasing food prices during Ramadan and Eid and proposes seven strategic measures to keep the consumer price index (CPI) inflation within the target range. These measures include implementing consistent monetary and fiscal policies, managing inflation in volatile food groups, ensuring food availability and distribution, strengthening food security, and improving the synergy between TPIP, TPID, and GNPIP.

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Original content

REPUBLIKA.CO.ID, JAKARTA -- Bank Indonesia (BI) said the synergy and collaboration between the Central and Regional Inflation Control Teams (TPIP and TPID) together with the National Movement for Food Inflation Control (GNPIP) anticipates the potential for an increase in food prices ahead of Eid al-Fitr 2024. "We need to work harder to control inflation in 2024, including during the National Religious Holidays (HKBN), as historically HKBN Ramadhan and Eid al-Fitr have the potential to increase food prices," said BI Deputy Governor Doni Primanto Joewonodi in Jakarta, Wednesday (27/3/2024). At the launch event for the National Movement to Control Food Inflation (GNPIP) for the Kalimantan Region, which was attended virtually, Doni said that an increase in food prices had the potential to occur in line with increasing public demand to meet various needs in celebration of Ramadan and Idul Fitri 2024. With the harvest season expected to last until the end of March and April 2024, ...

Source: Republika