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    Bank Indonesia and West Java Provincial Government Hold Cheap Bazaars

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    BANDUNG - Located in Ujungberung Square, Bandung City, held an activity on the Cheaper Control of Inflation in West Java 1440 H. The plan, this Cheap Bazaar activity will be held for 3 (three) consecutive days, namely from 21 - 23 May 2019, starting at 8:30 to 16:30 WIB.

    This activity is a series of programs initiated by the Bank Indonesia Representative Office of West Java in synergy with Banks in West Java (Bank Mandiri, BNI, BJB, BCA, Bank Syariah Mandiri, and Panin Syariah Bank), agencies / companies (Perum Bulog Divre West Java, PT Indonesian Trade Companies, PT Indomarco Prismatama, PT Sumber Alfaria Trijaya and SOEs Ujungberung District) and supported by West Java BMPD.

    Head of West Java Bank Indonesia Doni P Joewono said the implementation of this activity is a concrete form of concern in the month of Ramadan, especially to suppress the turmoil of rising prices (inflation) that usually occur every year.

    "The programs are held not only in Bandung, but also held in the City of Tasikmalaya, Cirebon City, Depok City, Bandung City, Bogor City and Bekasi City. In the Cheap Bazaar activities, in addition to basic necessities and clothing, the Bank Indonesia Representative Office of West Java Province provides free money exchange services, "he said Tuesday (5/20).

    As an illustration, West Java inflation in April 2019 was recorded at 2.88% (yoy) or increased compared to the previous month which was 2.42% (yoy). If you look at the historical inflation patterns in West Java, West Java's inflation pressures that occurred during Ramadhan and Eid al-Fitr (2016-2018 average) were recorded at 0.55% (mtm). Meanwhile, food inflation during Ramadhan & Eid al-Fitr (2016-2018) recorded an average of 1.13% (mtm). Based on commodities, inflation pressures in April 2019 were mainly sourced from the commodities of shallots, garlic and tomato vegetables. Whereas commodities contributing to inflation are based on inflation history patterns, broiler meat, shallots and broiler eggs which contribute the highest in terms of food ingredients.

    The increase in inflationary pressures had an effect on the purchasing power of the people, especially during the moments of Ramadan and Eid al-Fitr. The increase in prices during the month of Ramadan was caused by an increase in people's demand for food ingredients, speculation of traders who stockpiled food, cultural factors and not all regions became producers of basic needs products.

    The hope, with this activity, especially coinciding with the moment of Eid al-Fitr, can help control inflation in West Java, which in turn can improve the welfare of the community.

    Present on the occasion were West Java Secretary Iwa Karniwa and Deputy Mayor of Bandung Yana Mulyana. Jo

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