Inflation Reaches 3.47 Percent, Highest Since August 2019: Cooking Oil And Gasoline Are The Causes

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA – The Central Statistics Agency (BPS) informed that the movement of inflation at the beginning of this year continued to show a consistent increase.

Head of BPS Margo Yuwono said that on an annual basis (year-on-year/yoy) the inflation rate in April 2022 was 3.47 percent.

This figure is higher when compared to the previous two months yoy with respectively 2.64 percent in March and 2.03 percent in February.

"April's inflation, which was 3.47 percent on an annual basis, was the highest since August 2019 when inflation was 3.49 percent," he told reporters via virtual channels on Monday, May 9.

On a monthly basis, aka month to month (mtm), inflation was recorded at 0.95 percent. Then inflation for the calendar year or April 2022 against December 2021 is 2.15 percent.

"The main contributors to inflation in April came from commodities such as cooking oil, gasoline, broiler meat, and air transportation fares," he said.

Furthermore, Margo explained that 90 main cities in Indonesia experienced inflation with the highest rate occurring in Tanjung Pandan at 2.58 percent and the lowest in Gunungsitoli at 0.22 percent.

"All cities in Indonesia experienced inflation (and none experienced deflation)," he asserted.

Even though the inflation level continues to skyrocket, this record is still within the government's target range in accordance with the provisions in the 2022 State Budget Law with 3 percent plus minus 1 percent.