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Prices are Soaring

Bank Indonesia: Inflation Nearing Double-Digits in Bali and Nusa Tenggara

(9/20/2013) Bank Indonesia reports that the rate of inflation for Bali and Nusa Tenggara (Bali-Nusra) in on the verge of breaking into double-digit territory.

Beritabali.com reports that Bank Indonesia recorded an 8.83% rate of inflation rate for Bali-Nusra for the month of August. That rate is slightly higher than the 8.79% rate of inflation recorded nationally during the same month.

The head of the Bank Indonesia in Bali, Dwi Pranoto, said on September 17, 2013 that the rate of inflation for only West Nusa Tenggara in August hit 9.83% compared to 8.35% on the island of Bali.

Dwi Pranoto said the relatively high rate of inflation was being driven by higher fuel costs and higher electrical rates. He went on to warn that a high rate of inflation will upset regional development, deter new investment and eventually result in a reduced standard of living for the people living in this area.