According To Historical Patterns, Indonesia Deflations 0.02 Percent In August 2023

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA The Central Statistics Agency (BPS) confirmed a decline in inflation (deflation) in August 2023 to minus 0.02 percent on a monthly basis (month to month/mtm).

Deputy for Distribution and Services Statistics, BPS Pudji Ismartini, said that the book was lower than in July 2023 which recorded inflation of 0.21 percent. He revealed that this condition repeated the same pattern in the previous year.

"This August 2023 deflation is in line with last year's conditions, namely August 2022 with a lower deflation rate, which is (minus) 0.21 percent," he said while giving a press statement to reporters, Friday, September 1.

According to Pudji, the largest contributor to deflation last month was the food, beverage and tobacco group with a deflation of minus 0.25 percent.

"The largest commodities contributing to deflation include broiler meat, shallots, broiler eggs, and several other commodities such as fresh fish, household fuel, air transportation rates and long beans," he said.

Pudji added, for education groups experiencing inflation of 0.86 percent contributed by tertiary fees (akademi), high school fees, elementary school fees and first high school fees.

"This educational group inflation tends to occur between July and September, which coincides with the start of the new school year. We know that July is a moment when elementary and high school students enter the new school year, while August to September is the time for students to start lectures," he said.

Furthermore, Pudji stated that if viewed on an annual basis (year on year / yoy), there was an inflation of 3.27 percent in August 2023. This level is higher than July 2023 which was 3.08 percent yoy.

"The largest annual inflation in transportation groups with gasoline commodities, city transportation rates, intercity transportation rates, diesel, and rail rates," he said.