BPS Calls Lebaran 2024 Inflation Lower Than The Last 3 Years

Basic necessities (Photo: between)

JAKARTA - The Central Statistics Agency (BPS) recorded inflation in April 2024 which coincided with the moment of Eid was lower than the previous three years, namely in April 2023, May 2022, and May 2021.

Plt. Head of BPS Amalia Adininggar Widyasanti said that inflation in April 2024 was also lower than inflation in March 2024 which coincided with the beginning of Ramadan this year.

"This happened because in April 2024 the volatile price component experienced deflation after previously experiencing inflationary pressure for seven consecutive months," he said, quoting Antara.

BPS noted that monthly inflation in April 2024 reached 0.25 percent mtm with an annual inflation rate of 3 percent year-on-year (yoy) and calendar year inflation of 1.19 percent year-to-date (ytd).

Meanwhile, inflation in March 2024 was reported at 0.37 percent mtm, while inflation in April 2023, May 2022, and May 2021 was recorded at 0.33 percent mtm, 0.95 percent mtm, and 0.32 percent mtm, respectively.

Amalia said that the expenditure group from the volatile price component that contributed to deflation in the Lebaran period this year was the food, beverage and tobacco group with a monthly deflation of 0.01 percent.

According to him, commodities that became the main damper at the inflation rate during April include red chilies, rice, broiler eggs, and cayenne pepper with a monthly deflation of 0.14 percent, 0.12 percent, 0.06 percent, and 0.04 percent, respectively.

He also said that the level of deflation of red chili and rice commodities was the deepest during the period January 2021 to April 2024.

"Food, beverage and tobacco groups experienced deflation after three consecutive years of being a contributor to inflation at the moment of Eid al-Fitr April 2023, May 2022, and May 2021," he said.

Meanwhile, the expenditure group from the volatile price component that contributed to inflation during the Eid al-Fitr period was the transportation group, which was 0.12 percent, higher in contribution than in the previous month which was only 0.01 percent.

Amalia said that the high contribution of transportation group inflation in April 2024 was due to air transportation tariff commodities and intercity transportation rates, which experienced inflation of 8.05 percent mtm and 13.56 percent mtm, respectively.

"The transportation group is an inflation-producing group at the Lebaran moment for the last five years," he said.

During the Eid al-Fitr period in May 2020, May, 2021, May 2022, April 2023, and April 2024, BPS noted that the transportation expenditure group experienced monthly inflation of 0.87 percent, 0.71 percent, 2.42 percent, 0.84 percent, and 0.93 percent, respectively.