A record high was reached in February for the retail price of rice due to a 19.28% yearly increase in expectation of lesser output, according to the bureau’s national rice price index.
During the January–April 2024 harvest season, Indonesia anticipates a 17.52% decrease in rice production. In February, the core inflation rate—which excludes prices set by the government and volatile food prices—was 1.68%, which remained constant from the previous month and was less than the market’s estimate of 1.71%.
According to the agency, February saw the greatest level of volatile food inflation since September 2022, at 8.47%. Last week, BI stated that it intends for volatile food inflation to hover around 5% and that supply has been impacted by seasonal reasons, which is why rising food prices are only transitory. $1 equals 15,688.0000 rupiah.
