SUBSCRIBERS

Indonesia's central bankers hunt 'chili mafia' for stoking inflation

Pick-up in inflation restricting Bank Indonesia's room to cut interest rates to give the economy a much-needed boost

Published Tue, May 16, 2017 · 09:50 PM

Jakarta

THEY'RE called the chili mafia - a shady group of wholesalers who manipulate the price of Indonesia's favourite spice - and the nation's central bankers are out to smash them.

The fact that Bank Indonesia has joined the police on the front line of fighting crime is an indication of how the archipelago nation's economy functions, and sometimes doesn't. The bank's public enemy No 1 one is inflation, which for most Indonesians is chiefly influenced by the price of food.

And in Indonesia, food means chili.

So when prices of th…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

International

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here