EconomyBali Inflation Reached 0,52% in March

Bali Inflation Reached 0,52% in March

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In March 2021 the Province of Bali experienced inflation of 0,52% (mtm). Inflation mainly occurred in two categories of goods, namely volatile food, and administered prices, with core inflation recorded stable.

Spatially, the city of Denpasar experienced inflation of 0,47% (mtm), while the city of Singaraja experienced inflation of 0,81% (mtm). On an annual basis (yoy), Bali experienced inflation of 0,84%, lower than the national inflation of 1,37%.

The volatile food category experienced inflation of 2,78% (mtm) compared to the previous month. The increase in prices was seen mainly in the commodities of cayenne pepper, broiler chicken, preserved cobs, and shallots.

This increase in inflation is in line with rising demand associated with the arrival of Silent Day accompanied by a decrease in the supply of horticultural crops due to high rainfall.

The administered prices category recorded an inflation of 0,31% (mtm), mainly due to increased tariffs for air transport and cigarette commodities. The increase in airline ticket rates is in line with the long weekend in March.

Furthermore, the increase in cigarette prices is due to the increase in cigarette excise taxes starting in February 2021.

Meanwhile, prices in the core inflation category were relatively stable with an inflation of 0,04% (mtm). Price increases were seen for the commodities of baby diapers, leather sandals, face cream, and t-shirts.

Bank Indonesia considers that inflation in Bali up to March is still stable and under control. However, several commodities such as cayenne pepper and red chili still show an upward trend, as well as the high price of pork.

Meanwhile, Galungan Day and the month of Ramadan which falls in April are predicted to increase demand for foodstuffs and canang sari offerings.

Facing these potential challenges, the Regional Inflation Control Teams (TPID) at both the provincial and district/city levels continue to collaborate between regions, optimize the use of controlled atmosphere storage (CAS) machines, and urge the public to plant chilies in their yards, schools, and unused land.

Bank Indonesia continues to encourage the use of technology in marketing agricultural products (e-commerce) and in production.

photo by Metro Bali

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