BI Governor Perry Warjiyo (Photo: antaranews)Bank Indonesia (BI) projects that the country’s inflation rate will stay around 3% next year.
BI Governor Perry Warjiyo said on October 13 that the central bank estimates the rate would be around 3.6% in the third quarter of 2023, and 3% in the fourth quarter.
Previously, BI estimated that the inflation rate until the end of 2022 would rise above 6% as a result of a surge in fuel prices and transportation fares.
However, this rate will be still below the global average inflation, which can reach around 9% due to geopolitical conflicts in Europe that have resulted in an increase in world energy and food prices, the bank said./.