Inflation reaches 0.37 percent in February 2024

BPS (Photo: Doc. Antara)

JAKARTA — The Central Statistics Agency (BPS) released inflation data in February 2024 of 0.37 percent on a monthly basis or month to month (mtm). This figure is higher compared to January 2024 which was only 0.04 percent. The increase in rice prices will be the main contributor to inflation in February 2024.

Meanwhile, when compared to the same period last year, Indonesia's inflation in February 2024 reached 2.75 percent year on year (yoy). This figure is also higher than January 2023 which was only 2.57 percent.

"The monthly inflation rate in February 2024 is higher than the previous month and the same month last year," said BPS Deputy for Production Statistics M. Habibullah in a press conference, Friday, March 1, 2024.

Apart from that, the expenditure group that contributed the most to inflation was food, beverages and tobacco with inflation of 1 percent and a contribution to inflation of 0.29 percent.

Meanwhile, the main commodity contributing to inflation is rice with a contribution of 0.21 percent. Then, red chilies contributed 0.09 percent, chicken eggs 0.04 percent and chicken meat 0.02 percent.

Meanwhile, rice commodity inflation in February experienced inflation of 5.32 percent with a contribution of 0.21 percent, so this commodity provided the largest contribution on a monthly and annual basis.

"In general, rice increased in 37 provinces, and one other province decreased," he said.

Furthermore, monthly inflation by region showed that 28 provinces experienced inflation and 12 provinces experienced deflation. The highest inflation occurred in the West Sumatra region at 1.17 percent.