Bank Indonesia assures that the several-week long depreciating rupiah against the US dollar will not affect Indonesia’s September inflation significantly. Inflation is the said month is estimated to fall within the manageable level. Perry Warjiyo, Director of Economic Research and Monetary Policy, explained that the declining rupiah has not significantly raised the price of imported products, which otherwise will accelerate inflation. The European debt crisis, according to Perry, will be the main driver of the September inflation.
Lana Soelistianingsih, an economic expert at PT Samuel Sekuritas Indonesia, confirms that Indonesia’s Central Statistics Agency uses import figures to measure the impacts of a depreciating rupiah.
Rusman Heriawan, Head of the Central Statistics Agency, estimates the September inflation to end at 0.5 percent with high college fees and the price of gold as the main drivers.
The August month-on-month inflation equaled to 0.93 percent, while the January-August and August year-on-year inflation reached 0.93 percent and 5.15 percent, respectively.
Rully Nova, an economic expert at PT Bank Himpunan Saudara 1906 Tbk (SDRA), said that the Rp 8,800 per US dollar exchange rate is still positive for Indonesia’s export and import. Bank Indonesia, Rully says, should have enough foreign exchange reserves to prevent the rupiah from significantly dropping.
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