Ramadan 2024, BPS Records Food Inflation Increases To 10.33 Percent

Illustration. (Photo: Doc. Antara)

JAKARTA - The Central Statistics Agency (BPS) noted that inflation in volatile prices (volatile food) in March 2024 reached 10.33 percent on an annual basis, aka year on year (yoy). This food inflation rate increased when compared to February 2024 which only reached 8.47 percent.

Acting Head of the Central Statistics Agency (BPS) Amalia Adininggar Widyasanti said that the pressure of volatile price component inflation contributed to the largest inflation in March 2024.

"This volatile price component inflation contributed the largest to annual inflation with a share of 1.64 percent," Amalia said at a press conference, Monday, April 1, 2024.

Amalia said inflation in the food, beverage and tobacco group was recorded at 7.43 percent and contributed 2.09 percent to general inflation.

Amalia said the commodities that dominated the contribution of inflation were rice, broiler meat, red chilies, broiler eggs, garlic and tomatoes.

Furthermore, the inflation component that also contributed greatly to inflation in March 2024 was core inflation of 1.77 percent (yoy) with an inflationary contribution of 1.14 percent.

Commodities that contributed to inflation in February 2024 include gold jewelry, sugar, side dishes of rice, and house rental costs.

Finally, inflation in the price component regulated by the government (administered prices) was recorded at 1.39 percent and contributed to 0.27 percent inflation.

The dominant commodities that contribute to inflation in this component are Machine Kretek Cigarettes (SKM), hand-kretek cigarettes (SKT), machine white cigarettes (SPM) and air transportation rates.

For information, inflation conditions in March 2024 amounted to 0.52 percent on a monthly basis or month on month (mom), or higher than inflation conditions in February 2024 which amounted to 0.37 percent.

Meanwhile, during this period there was an increase in the consumer price index or IHK from 105.58 in February 2024 to 106.13 in March 2024.

On the other hand, in March 2024 on an annual basis there will be inflation of 3.05 percent or year on year (YoY). Meanwhile, inflation on a calendar year (March 2024 to December 2023) reached 0.93 percent year to date (ytd).