DENPASAR, OborDewata.com – The Bank Indonesia Bali Provincial Office, in collaboration with the Bali Provincial Government, held a High-Level Meeting (HLM) for the Regional Inflation Control Team (TPID) of Bali Province on December 20, 2024.
The meeting, themed ‘Synergy to Maintain Economic Stability Through Inflation Control and Accelerating Regional Financial Digitization Toward a Green, Resilient, and Prosperous Bali Supporting Advanced Indonesia’, served as a coordination platform among institutions and regional stakeholders to manage inflation in Bali.
The event was chaired by Bali’s Acting Governor, represented by the Regional Secretary of Bali Province, and attended by the Head of Bank Indonesia Bali Province, Head of the Regional Office of the Directorate General of Treasury (DJPB), Acting Head of Bali Province Statistics Office, CEO of PT BPD Bali, Regional Head of Bulog Bali Office, all Bali district and city leaders, and relevant regional teams involved in Regional Inflation Control Team .
This High-Level Meeting discussed strategies for controlling inflation ahead of the Christmas 2024 and New Year 2025 holiday period (Nataru). According to November 2024 inflation data, Bali Province experienced a 0.50% month-on-month (mtm) inflation rate, while the annual inflation rate stood at 2.50% year-on-year (yoy), aligning with the national inflation target.
“There has been an inflation trend in December for the past seven years,” said Acting Head of Bali’s Statistics Office, Kadek Agus Wirawan.
Meanwhile, Bali Provincial Secretary Dewa Made Indra noted that the Christmas and New Year festivities could trigger inflation for certain strategic commodities.
“Inflation may occur due to the influx of tourists visiting Bali Province, coupled with the current adverse weather conditions. Poor weather could disrupt the supply of key commodities, particularly those contributing to inflation, such as shallots, tomatoes, broiler chicken, and cooking oil,” said Dewa Indra.
The public is encouraged to shop wisely by adopting responsible consumption habits and avoiding over-buying. To support Bali’s economic growth, the Regional Secretary also urged all regional leaders and officials to take preventive measures to control inflation during the holiday season.
“We need to ensure adequate supplies, especially for inflation-driving commodities, maintain smooth distribution to stabilize prices, and maximize the role of local food agencies as off-takers,” he added.
In addition, Bulog Bali Office Chief Muhammad Anwar and all district and city leaders across Bali assured that food commodity stocks in each region were secure ahead of the holidays.
The Head of Bank Indonesia Bali Province, Erwin Soeriadimadja, stated that Bali’s economy remains robust, with a 2024 economic growth projection ranging between 5.1-5.9% (yoy), accompanied by controlled inflation.
“Bank Indonesia continues to promote economic growth through pro-growth monetary policies while implementing inflation control and price stabilization efforts,” said Erwin.
Furthermore, Erwin outlined five medium-to-long-term inflation control strategies; Strengthening regulations and supervision of local ordinances on sustainable food land protection and organic farming; Expanding the legal framework for local product optimization in the hospitality, restaurant, and café sectors; Enhancing technology access for farmers, such as smart farming, optimizing Rice Milling Units (RMU), and advancing food processing; Marketing support for agricultural, livestock, and fishery products and encouraging collaboration between farmers and regional food agencies as off-takers; Strengthening upstream-downstream food ecosystems and resilience financing through local village enterprises, regional credit guarantees, and inter-regional cooperation.
The meeting also emphasized strengthening stakeholder collaboration to drive sustainable innovation, as exemplified by the High-Level Meeting.
During the event, economic empowerment support was also provided to local groups such as Jatiluwih Tabanan Village MSMEs, Renon Mandiri Denpasar Community Food Enterprise, and the Young Cool Farmers Group from Buleleng. This initiative is part of a shared commitment to control inflation and enhance food resilience in Bali Province.
These programs aim not only to support agricultural productivity but also to ensure the sustainability of the food sector as a vital pillar of Indonesia’s economy. Regional Inflation Control Team across Bali Province remains committed to collaborating and maintaining stable prices to achieve the 2024 inflation target of 2.5% ± 1%. ri/nda/sathya
