Food prices soar in Ramadan; inflation in Indonesia is predicted to rise in March

Published 2024년 4월 1일

Tridge summary

CNBC Indonesia predicts that Indonesia's inflation rate will increase to 2.88% in March 2024, driven by heightened demand and price rises during the Ramadan fasting month. Factors contributing to this inflationary pressure include the traditional surge in prices of commodities such as rice, beef, cooking oil, and red chilies during Ramadan, as noted by Ferry Irawan from the Indonesian Coordinating Ministry for the Economy. Ahmad Heri Firdaus of INDEF Economics adds that the inflation spike could continue into April, exacerbated by Ramadan and Eid celebrations, along with challenges in domestic rice production. A detailed analysis of Indonesia's inflation forecasts and the government's countermeasures will be featured in an upcoming segment by CNBC Indonesia.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Jakarta, CNBC Indonesia- CNBC Indonesia's market consensus projects that Indonesia's inflation in March 2024 will increase to 2.88% (yoy) in line with increasing demand and rising prices in the month of Ramadan fasting. Deputy for Macroeconomic & Financial Coordination at the Coordinating Ministry for the Economy of the Republic of Indonesia, Ferry Irawan, said that inflationary pressures would be cyclically higher in the month of Ramadan. Based on government monitoring, a number of commodities, such as rice, beef, cooking oil and red chilies, have experienced a surge, although some have experienced a decline, such as eggs and chicken. Meanwhile, INDEF Economics, Ahmad Heri Firdaus, said that an increase in inflation could potentially occur in March and April due to the effects of Ramadan and Eid. Apart from that, obstacles to domestic rice production are another challenge for Indonesian inflation. What are RI's inflation projections like? What are the ...

Source: Cnbcindonesia