ID :
17816
Tue, 09/02/2008 - 18:53
Auther :
Shortlink :
http://m.oananews.org//node/17816
The shortlink copeid
GOVT URGED TO CONDUCT MARKET OPERATIONS
Jakarta, Sept 2, (ANTARA) - The Indonesian Chamber of Commerce and Industry (KADIN) called on the government to launch market operations in order to offset basic commodity price increases caused by speculators capitalizing on high demand during the fasting month and in the runup to the Idul Fitry holidays.
"Although inflation in August declined to 0.51 percent from 1.37 percent in July, it will likely increase to about 25 percent in September," Bambang Soesatyo, chairman of KADIN's permanent committee for fiscal and monetary affairs, said here on Tuesday.
He said the August inflation rate of 0.51 percent had not included price increases of basic necessaries and liquefied petroleum gas which had been on the upward trend since two weeks before the fasting month.
"KADIN hopes that the government and the monetary authorities will not let the seasonal inflation hikes take place as a routine matter in the face of the religious festivities," he said.
He said the government still had a chance to control the increase in the basic commodity and gas prices at the retail level by launching market operations.
"Market operations could eliminate the chance for speculators to raise prices at will," he added.
He said if the government was not able to curb the prices of basic commodities and gas which at present had reached Rp100,000 at the retail level in a number of cities outside Java, inflation would badly affect the national economy.
"Although inflation in August declined to 0.51 percent from 1.37 percent in July, it will likely increase to about 25 percent in September," Bambang Soesatyo, chairman of KADIN's permanent committee for fiscal and monetary affairs, said here on Tuesday.
He said the August inflation rate of 0.51 percent had not included price increases of basic necessaries and liquefied petroleum gas which had been on the upward trend since two weeks before the fasting month.
"KADIN hopes that the government and the monetary authorities will not let the seasonal inflation hikes take place as a routine matter in the face of the religious festivities," he said.
He said the government still had a chance to control the increase in the basic commodity and gas prices at the retail level by launching market operations.
"Market operations could eliminate the chance for speculators to raise prices at will," he added.
He said if the government was not able to curb the prices of basic commodities and gas which at present had reached Rp100,000 at the retail level in a number of cities outside Java, inflation would badly affect the national economy.
