BI Governor Agus Martowardojo said inflation in July 2013 was the highest inflation rate as the impact of subsidized fuel price hike. Therefore, the subsidized fuel price hike will impact inflation over the next four months.
"We expect inflation after the subsidized fuel price increase in July 2013 reached 2.38 percent," Agus said during a press conference at the Bank Building in Jakarta, Friday (05/07/2013).
Agus added that inflation in July will be a post-hike subsidized fuel prices that came into effect late June 2013. Meanwhile, in August 2013 the inflation rate to decline to 0.93 percent. While the inflation rate in September 2013 will only be 0.1 percent.
For the year, the inflation rate would be 7.2 to 7.8 percent. Predicted inflation rate of 7.8 percent is the worst prediction rate when the government is not able to maintain the availability of food, transportation costs surge to the availability of LPG in the market.
"But if you are able to control the problem, the annual inflation rate will reach 7.2 per cent," he added.
As reported previously, the post-hike subsidized fuel prices, the inflation rate in June 2013 was at 1.03 per cent (mom) and at 5.90 per cent (yoy). The inflation rate is low because only account for a week after the subsidized fuel price hike. The government itself predicted inflation would rise in this month.
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