BPS Records Inflation In January 2024 Sloping At 0.04 Percent

BPS (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) reported inflation in January 2024 of 0.04 percent on a monthly basis or month to month (mtm). This inflation is lower than inflation in December 2023 of 0.41 percent

Acting Head of the Central Statistics Agency (BPS) Amalia Adininggar Widyasanti said the inflation rate in January 2024 was also lower than the same period last year.

"Not only lower than December 2023, but inflation in January 2024 is also lower than January 2023," Amalia said at a press conference, Thursday, February 1, 2024.

Amalia said that of the 38 provinces monitored, inflation occurred in 25 provinces and the rest experienced deflation. Where the highest inflation occurred in Papua, the mountains were 1.01 percent and deflation occurred in Gorontalo at 0.9 percent.

Amalia explained that the decline in inflation was caused by the end of the Christmas and New Year holidays, as well as the decline in non-subsidized fuel prices on January 1, 2024.

"The expenditure group is the largest contributor to inflation from food, beverages and tobacco with inflation of 0.18 percent and the contribution of inflation of 0.05 percent," said Amalia.

Meanwhile, the main commodities contributing to inflation are tomatoes with an inflationary contribution of 0.09 percent, shallots with a share of 0.04 percent, as well as rice prices with a share of 0.03 percent.

However, there are several commodities that have decreased prices or deflation, thus hampering inflation, such as cayenne pepper with a contribution to deflation of 0.11 percent, as well as red chilies and air transport rates, each of which contributes to deflation of 0.09 percent.

So that the annual inflation rate or year on year (yoy) in January 2024 is 2.57 percent (yoy), or also sloping from 2.61 percent (yoy) in December 2023.