Jewelry Gold Donates Highest Inflation Over The Last 15 Months

Illustration (Photo: Doc Antara)

JAKARTA - The Central Statistics Agency (BPS) noted that gold jewelery has become a commodity that has contributed to inflation since September 2023 or for the last 15 months

Acting (Plt) Head of BPS Amalia Adininggar Widyasanti said that gold jewelery commodities experienced inflation of 2.87 percent (MtM) in November 2024.

"The gold jewelery commodity has continued to experience inflation for the last 15 months. In November 2024 gold jewelery experienced inflation of 2.87 percent with an inflationary contribution of 0.04 percent," he said at a press conference at the BPS Headquarters, Monday, December 2.

Amalia explained, in the last 15 months, gold jewelery has continued to rise.

As for October 2023, gold jewelery inflation reached 0.92 percent, and November 2023 at 2.55 percent.

In addition, gold jewelery experienced the highest inflation in April 2024 to 7.4 percent, 4.73 percent in May 2024, and 4.44 percent in October.

Meanwhile, gold jewelery experienced its lowest inflation in September 2024 which was 0.36 percent and gold jewelery experienced deflation in August 2023 of 0.3 percent.

The jewelry gold includes groups of personal goods and other services. The group became the second largest contributor to inflation in November 2024.

"The inflation rate for this group is 0.65 percent, mainly driven by gold jewelery," he explained.

In addition, gold jewelry is included in the Core component which experienced inflation of 0.17 percent with an inflationary contribution of 0.11 percent.

In addition to gold jewelry, commodities that are dominant in contributing inflation to the core components are cooking oil and powdered coffee.

To note, monthly, inflation occurred in November 2024 which was recorded at 0.30 percent on a monthly basis or month to month (mom) or higher than October 2024 of 0.08 percent.