BPS Records RI Inflation 0.08 Percent In October 2024

JAKARTA - The Central Statistics Agency (BPS) noted that the Indonesian economy experienced inflation of 0.08 percent (month-to-month/mtm) in October 2024.

"There was a decrease in the Consumer Price Index (JCI) from 105.93 in September 2024 to 106.01 in October 2024," said Acting (Plt) Head of BPS Amalia Adininggar Widyasanti quoting Antara.

With these developments, annual inflation reached 1.71 percent (year-on-year/yoy) and inflation for calendar year 0.82 percent.

"The year-on-year inflation rate in October 2024 is 1.71 percent or there is an increase in the consumer price index from 104.23 in October 2023 to 106.01 in October 2024," he said.

Based on the expenditure group, annual inflation is driven by food, beverage and tobacco groups with inflation of 2.35 percent and contributes 0.67 percent to general inflation.

Commodities with the largest share of inflation in this group are rice and machine keretek cigarettes (SKM) which amounted to 0.15 percent and 0.13 percent, respectively. Other commodities that also contributed to large enough inflation were powder coffee, cooking oil, onions, and sugar.

The annual inflation of clothing and footwear groups is 1.20 percent with a share of 0.06 percent; housing, water, electricity and household fuel groups 0.60 percent with a share of 0.10 percent; equipment, equipment and routine maintenance groups households 1.08 percent with a share of 0.06 percent; then health groups 1.71 percent with a share of 0.05 percent.

Then namely the recreation, sports and culture group 1.53 percent with a share of 0.03 percent; education group 1.90 percent with a share of 0.11 percent; food and beverage supply group / 2.36 percent with a share of 0.23 percent; and private care groups and other services of 7.06 percent with a share of 0.43 percent.

Regarding other commodities outside the food, beverage, and tobacco groups that contributed significantly to inflation, gold jewelery and side dishes, respectively by 0.35 percent and 0.06 percent.

Annual inflation also occurs in all components. Starting from the core component experiencing an annual inflation of 2.21 percent with a share of 1.42 percent. The dominant commodities that contribute to inflation in this component include gold jewelry, powdered coffee, side dishes of rice, cooking oil, and sugar.

For price components regulated by the government, experiencing annual inflation of 0.77 percent with a share of 0.15 percent. The dominant commodities to contribute to inflation are SKM, hand-kretek cigarettes, and machine white cigarettes.

In the volatile price component, inflation experienced 0.89 percent with an inflationary contribution of 0.14 percent. The dominant commodities that contribute to inflation are rice, onions, garlic, and broiler eggs.

"Annually, all provinces experience inflation. The highest inflation occurred in Central Papua, which was 4.19 percent, while the lowest inflation occurred in the Bangka Belitung Islands at 0.22 percent," he said.