Indonesia eyes 3 percent inflation rate in 2020

Indonesia eyes 3 percent inflation rate in 2020

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Jakarta — The government has eyed a 3 percent inflation rate in 2020, in order to keep the rate low to help purchasing power, improve living standards and encourage sustainable development. “The inflation rate for 2020 is targeted at three, plus and minus 1 percent. Indonesian inflation has been declining every year,” Coordinating Economic Minister Darmin Nasution said after attending a coordination meeting of regional inflation teams (TPIDs) in Jakarta on Monday (22/01). He said last year the target was 4, plus and minus 1 percent, and this year is 3.5, plus and minus 1 percent. “We want our inflation rate to be similar to the rates of our partner countries,” he said, adding that the government had set inflation targets of 3.5 percent in 2019, 3 percent in 2020 and 3 percent in 2021. The inflation targets are based on an increase in the percentage of consumer price index (CPI) or year-end headline inflation compared to a year earlier (year on year).

Source: thejakartapost.com

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