Indonesia's Annual Inflation Rate Slows in October 2024

The Central Statistics Agency (BPS) reported that Indonesia experienced annual inflation of 1.71% (year-on-year/yoy) in October 2024.

This inflation rate slowed compared to previous months and was the lowest since the end of 2021.

Commodities contributing to annual price increases (inflation) in October 2024 included rice, garlic, shallots, chicken eggs, granulated sugar, cooking oil, instant coffee, hand-rolled kretek cigarettes (SKT), machine-rolled kretek cigarettes (SKM), and machine-rolled white cigarettes (SPM).

The October 2024 annual inflation rate was also influenced by rising prices for house rent, house contracts, domestic helper wages, cars, motorcycles, school fees, and gold jewelry.

Commodities contributing to annual price decreases (deflation) in October 2024 included red chilies, chili peppers, tomatoes, carrots, cucumbers, papayas, infant formula, liquid/dish soap, gasoline, and mobile phones.

Here's a breakdown of Indonesia's annual inflation rate by expenditure group in October 2024, ordered from highest to lowest:

* Personal care and other services: 7.06% (yoy)
* Food and beverage service/restaurants: 2.36% (yoy)
* Food, beverages, and tobacco: 2.35% (yoy)
* Education: 1.90% (yoy)
* Health: 1.71% (yoy)
* Recreation, sports, and culture: 1.53% (yoy)
* Clothing and footwear: 1.20% (yoy)
* Household equipment, appliances, and routine maintenance: 1.08% (yoy)
* Housing, water, electricity, and household fuel: 0.60% (yoy)

Meanwhile, two expenditure groups experienced annual deflation: transportation, down 0.08% (yoy), and information, communication, and financial services, down 0.28% (yoy).

In October 2024, all provinces in Indonesia experienced annual inflation. The highest inflation occurred in Central Papua at 4.19% (yoy), while the lowest was in Bangka Belitung Islands at 0.22% (yoy).