October inflation 0.17 percent
Central Java Province BPS released the October 2020 Consumer Price Index (CPI) of 104.84 or 0.17 percent inflation. Inflation trend began to appear since last September, namely at 0.04 percent. This shows an increase in the purchasing power of the people of Central Java at the beginning of the fourth quarter.
Of the six CPI cities in Central Java, all cities experienced inflation. The highest inflation occurred in Tegal City at 0.22 percent, while the lowest inflation occurred in Purwokerto at 0.07 percent.
The main commodity contributing to Central Java's inflation is red chilies. Apart from chilies, inflation was also caused by the increase in the price of shallots, house contracts, cooking oil and chicken meat. Meanwhile, which became a barrier to inflation in October 2020, decreased prices for eggs, gold jewelry, online 2-wheeled vehicle tariffs, watermelon and electricity rates.
The year-on-year inflation rate for October 2020 is 1.57 percent. Meanwhile, inflation for the calendar year for October 2020 was 0.91 percent. This calendar year inflation is much lower than the October 2018 calendar year inflation and the October 2019 calendar year inflation of 2.13 percent and 2.15 percent, respectively. The low inflation rate for the Central Java calendar year is the impact of the Covid-19 pandemic. Public purchasing power needs to be maintained in order to be able to maintain the inflation rate according to Bank Indonesia's target, which is 2% to 4% at the end of 2020.
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