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BPS reports 0.52 percent inflation in March

Jakarta Globe - April 1, 2024

Arnoldus Kristianus, Jakarta – The Central Statistics Agency (BPS) revealed that the monthly inflation rate reached 0.52 percent in March. The year-on-year (YoY) inflation stood at 3.05 percent, with a year-to-date (YTD) inflation rate of 0.93 percent.

Amalia Adininggar Widyasanti, Acting Head of BPS, announced the findings during a press conference held at the BPS office in Jakarta on Monday. She explained that the consumer price index rose from 105.58 in February 2024 to 106.13 in March 2024.

According to BPS, the food, beverages, and tobacco category made the most significant contribution to inflation, with a 1.42 percent increase contributing 0.41 percent to March 2024's inflation rate.

Key contributors to inflation within this category included chicken eggs, chicken meat, rice, bird's eye chili, and garlic. However, some commodities, such as red chili and tomatoes, contributed to deflation, each accounting for -0.02 percent.

Across Indonesia's 38 provinces, 34 experienced inflation, while four witnessed deflation. Notably, North Sulawesi Province recorded the highest inflation rate at 1.07 percent, while Maluku Province reported the deepest deflation at 0.46 percent.

Further analysis revealed that the volatile price component saw a 2.16 percent inflation rate, contributing 0.36 percent to March 2024's inflation. Key commodities driving this inflation included eggs, chicken meat, rice, bird's eye chili, garlic, and shallots.

Meanwhile, the core component experienced a 0.23 percent inflation rate, contributing 0.15 percent to overall inflation. Dominant commodities contributing to this inflation included gold jewelry, cooking oil, and rice with side dishes.

Additionally, the government-administered price component saw a 0.08 percent inflation rate, contributing 0.01 percent to March 2024's inflation. Machine-made kretek cigarettes were the primary contributor to inflation within this category.

Source: https://jakartaglobe.id/business/bps-reports-052-percent-inflation-in-marc