Prices Under Control Amid Market Intervention

Kompas/P Raditya Mahendra Yasa

The Central Java government and several state agencies, including the State Logistics Agency (Bulog) and Bank Indonesia, prepare packages of basic commodities to be distributed to a number of regions from the Central Java governor’s office in Semarang on Tuesday (23/5/2017). The movement was organized to control food prices that usually spike during the Ramadhan fasting month. Stocking basic commodities is a measure to prevent price hikes that hampers the local economy.

JAKARTA, KOMPAS – The government’s market intervention and law enforcement in the food market has been able to stabilize prices and eliminate trade speculation.

Prices of the majority of staple foods have begun to decline while hoarding practices carried out by traders to push up prices have been dismantled.