Indonesia's Inflation Slows in November 2024, Lowest in Three Years

The Central Statistics Agency (BPS) reported that Indonesia experienced annual inflation of 1.55% (year-on-year/yoy) in November 2024.

This inflation rate is the lowest in the last three years, specifically since August 2021, as shown in the graph.

Commodities contributing to inflation or the annual price increase in November 2024 were rice, shallots, garlic, tomatoes, broiler chicken, fresh fish, granulated sugar, instant coffee, cooking oil, hand-rolled kretek cigarettes (SKT), machine-rolled kretek cigarettes (SKM), and machine-rolled white cigarettes (SPM).

In addition, the November 2024 inflation rate was also influenced by increases in house rent, house contracts, domestic helper wages, school fees, oily cookies, rice with side dishes, and gold jewelry.

Meanwhile, commodities contributing to deflation or the annual price decrease in November 2024 were red chilies, cayenne peppers, green chilies, carrots, string beans, papaya, chayote, scallions, infant formula, liquid/dish soap, gasoline, airfare, and cell phone services.

Here is a breakdown of Indonesia's annual inflation rate based on expenditure in November 2024, sorted from highest to lowest:

* Personal care and other services: 7.26% (yoy)
* Food and beverage service/restaurants: 2.40% (yoy)
* Education: 1.89% (yoy)
* Food, beverages, and tobacco: 1.68% (yoy)
* Health: 1.65% (yoy)
* Recreation, sports, and culture: 1.49% (yoy)
* Clothing and footwear: 1.20% (yoy)
* Household equipment, appliances, and routine maintenance: 1.08% (yoy)
* Housing, water, electricity, and household fuel: 0.59% (yoy)
* Transportation: 0.03% (yoy)

Meanwhile, the information, communication, and financial services expenditure group experienced annual deflation or a price decrease of 0.28% (yoy).

In November 2024, all provinces in Indonesia experienced annual inflation. The highest inflation occurred in Central Papua at 4.35% (yoy), while the lowest was in Bangka Belitung Islands at 0.22% (yoy).