Rows of Palm Cooking Oil Deflation in Three Months

Rows of Palm Cooking Oil Deflation in Three Months

Palmoilmagazine, packaged palm cooking oil

Palmoilmagazine, JAKARTA – The monthly report by Central Bureau of Statistic (CBS) Indonesia noted that in July 2022, the decreasing bulk palm cooking oil price was more significant that the decreasing packaged palm cooking oil price.

Compared to the previous month, palm cooking oil took part in the past three month – deflation in a row, such as, May 2022 reaching -0,01 percent, June 2022 about -0,02 percent, and July2022 -0,07 percent. But compared to last year in the same period, palm cooking oil delivered inflation 0,29 percent in July 2021.

Still based on CBS, food crisis and energy in the globe pressed domestic inflation in 2022 namely in energy sector which kept increasing. “But inflation in energy sector because of the global crisis can be muffled by subsidy policy that the government published,” CBS Indonesia noted in the monthly report that Palmoilmagazine got on Monday (1/8/2022),

Food inflation happened for the domestic supply issue in volatile food because of the weather.

“The inflation in Indonesia compared to last year in the same period persistently escalated in 2022 but the condition was relatively well maintained,” CBS Indonesia noted.

This is known from, the first, the main inflation described the stable economic fundamental; and the second, inflation in Indonesia was relatively lower than it in many G20 countries. (T2)

 

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