In the February 2022 period, Malang City experienced inflation of 0.18 percent (mtm), 0.70 percent (ytd) and 2.41 percent (yoy) with a Consumer Price Index (CPI) of 106.59. The Bank Indonesia Malang Representative Office assessed that inflation in Malang in this February is still under control.
However, observers warn that the inflation rate in April is expected to rise due to pressure from administered prices and volatile food due to pressure from global conditions and the momentum of Ramadan – Eid al-Fitr.
Malang City’s inflation realization is higher than East Java and Nationally, by 0.05 percent (mtm) and -0.02 percent (mtm, respectively).
“In general, inflation in February 2022 was driven by rising prices for various expenditure groups,” said Head of the BI Malang Representative, Samsun Hadi.
These groups are the household equipment, equipment and routine maintenance group with a share of 0.11 percent, the personal care and other services group at 0.09 percent, the transportation group at 0.05 percent and the housing, water, electricity and fuel group. stairs by 0.03 percent
Based on commodities, he said, the five commodities that contributed to the largest inflation were cars with a share of 0.06 percent (mtm), powder/liquid detergent soap at 0.06 percent (mtm), chicken meat at 0.05 percent (mtm). ), shallots by 0.05 percent (mtm) and security costs by 0.03 percent (mtm).
The increase in car prices is in line with the continued price correction after the end of the government-borne luxury goods sales tax incentive (PPnBM-DTP), especially for cars with sales prices above Rp. 250 million.
The higher inflation, said Samsun, was restrained by the decline in the prices of several commodities, such as cooking oil by -0.15 percent (mtm), chicken eggs by -0.09 percent (mtm), cayenne pepper by -0.05 percent. (mtm), and air transportation by -0.03 percent (mtm).
Bank Indonesia Malang remains committed to maintaining price stability and strengthening policy coordination with the Regional Government as well as consistently directing inflation expectations through TPID programs to control inflation in 2022 according to the target range of 3.0 percent ± 1 percent. In addition, BI Malang and the Regional Government also continue to strive to encourage economic activities while still paying attention to health protocols and increasing people’s purchasing power in line with the acceleration of Covid-19 vaccination as part of efforts to support the National Economic Recovery (PEN) program.
Future inflationary pressures will not only come from administered prices but the potential for inflation from volatile foods will continue to haunt. Prices of meat, soybeans, and cayenne pepper which have started to creep up have the potential to skyrocket due to increased demand ahead of Ramadan and Eid al-Fitr.
In addition, global uncertainty due to the Russian invasion will put pressure on energy commodities (oil and gas) and CPO as raw materials for cooking oil and biodiesel blends.
It is observed that several cities in Java, such as Kediri and Solo, also experienced inflation. The main cause is the same as what happened in Malang City, namely the increase in the prices of some basic food ingredients along with the arrival of the month of Ramadan.
, 0.70 percent (ytd) and 2.41 percent (yoy) with a Consumer Price Index (CPI) of 106.59. The Bank Indonesia Malang Representative Office assessed that inflation in Malang in this February is still under control.){kind=link}