Coordinating Minister for the Economy Airlangga Hartarto stated that the gold price that triggered the annual inflation of 2.86 percent was the positive impact of the formation of a gold bank or bullion bank.
"Inflation 2.86 percent, one of the things that has increased is related to the purchase of gold. So this is a relatively positive thing because the community can already look for quality assets, and this is the effect of the formation of a bullion bank," said Airlangga in Jakarta, quoted by Antara, Tuesday, November 4.
According to him, after the formation of a gold bank in February 2025, the public now understands better and chooses investment in gold. So that the precious metal became the main contributor to annual inflation in October 2025 which was 2.86 percent or with a share of 0.68 percent.
"Since the launch of the bullion bank, public awareness or understanding of this gold investment has increased," he said
As for the current rising gold price, Airlangga conveyed because of the disruption in the supply-demand chain. But now the gold-making company continues to strive to meet domestic demand.
"Of course this is what drives one of the gold prices to go up all time high, because the supply and demand are not balanced," he said again.
The gold bank is a bank that has a special permit to conduct gold transactions in various forms, such as buying and selling, storing, and gold-based financing launched in February 2025 by Indonesian President Prabowo Subianto.
In Indonesia, a bullion bank was established in collaboration between Bank Syariah Indonesia (BSI) and Pegadaian. This bank aims to strengthen the domestic gold industry ecosystem and reduce dependence on gold imports.
With the bullion bank, people can invest in gold without having to buy physical gold directly.
The Central Statistics Agency (BPS) noted that the Indonesian economy experienced an annual inflation of 2.86 percent year-on-year (yoy) in October 2025, mainly due to the increase in gold prices.
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"Year-on-year, in October 2025 there was an inflation of 2.86 percent or an increase in the Consumer Price Index (IHK) from 106.01 in October 2024 to 109.04 in October 2025," said Deputy for Distribution and Services Statistics at BPS Pudji Ismartini in Jakarta, Monday, November 3.
He stated that gold was the main contributor to annual inflation in October 2025 with a share of 0.68 percent, along with the increase in global gold prices which had a direct impact on the domestic market.
Commodities with the other largest share of inflation are red chili (0.28 percent), rice (0.16 percent), PAM drinking water tariff (0.14 percent), and fresh fish (0.13 percent).
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