Central bank to launch app for monitoring food prices
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Bank Indonesia (BI) plans to launch a mobile app through which the public and regional administrations can monitor harga pangan (the prices of staple foods) on a daily basis.
The public would be able to use the app to avoid being deceived, while the regional administrations can use it to observe when prices go too high so they can tackle them faster.
The public can already download the app or use it on the hargapangan.id website, but it has not been officially launched.
The program managed by the Information Center for Strategic Food Prices (PIHPS) collects data from traditional markets in 82 cities in all 34 provinces in the country for 10 commodities: rice, shallots, garlic, red chili, birdseye chili, beef, chicken, eggs, sugar and vegetable oil.
“The PIHPS has been running, but we’ll wait for the official launch,” Dody Budi Waluyo, the BI governor’s assistant for monetary and economic policy, said recently.
“BI keeps improving the program. We’ll also collect prices not only from traditional markets, but also from modern markets; also maybe from big traders and touch on more commodities, as well as prices at the producers’ level. The point is we keep innovating with this,” he added.
Previously, BI deputy governor Sugeng told the media that the central bank also plans to create a data system to track supplies of staple foods in the regions.
All the aforementioned systems were developed so BI and the government could come up with better policies to achieve a 4 to 5 percent inflation rate.
Questions & Answers
Q.What is the primary purpose of the new app for both the public and regional administrations?
What is the primary purpose of the new app for both the public and regional administrations?
The public can use the app to avoid being deceived by inflated prices. Regional administrations can monitor prices to identify when they become too high, allowing them to intervene more quickly.
Q.Which specific commodities will be tracked through the new app and website?
Which specific commodities will be tracked through the new app and website?
The system currently collects data for 10 staple commodities: rice, shallots, garlic, red chili, birdseye chili, beef, chicken, eggs, sugar, and vegetable oil across 82 cities in all 34 provinces.
Q.Are there plans to expand the scope of price data collection beyond traditional markets?
Are there plans to expand the scope of price data collection beyond traditional markets?
Yes, Bank Indonesia plans to collect prices from modern markets and potentially from big traders. They also aim to include more commodities and track prices at the producers' level.
Q.What is the ultimate goal of developing these systems for monitoring food prices and supplies?
What is the ultimate goal of developing these systems for monitoring food prices and supplies?
Bank Indonesia and the government are developing these systems to formulate better policies. The objective is to achieve a stable inflation rate of between 4 and 5 percent.
Reader pulse
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