Indonesia's Inflation Reaches 2.56% in October 2023

According to a report by the Central Bureau of Statistics (BPS), Indonesia experienced a 2.56% year-on-year (yoy) inflation rate in October 2023.

The commodities that significantly contributed to the annual price increase (inflation) in October 2023 were rice, garlic, broiler chicken, granulated sugar, oranges, potatoes, clove cigarettes, white cigarettes, and filter-tipped clove cigarettes.

The annual inflation rate in October 2023 was also influenced by price increases in house rent, house contracts, domestic helper wages, PAM (water utility) tariffs, cars, train fares, elementary school fees, senior high school fees, college tuition, rice with side dishes, and gold jewelry.

Meanwhile, commodities that contributed to deflation (annual price decrease) in October 2023 were red onions, red chilies, chili peppers, cooking oil, pork, liquid/dish soap, and mobile phones.

Looking at expenditure groups, Indonesia's highest annual inflation in October 2023 occurred in the food, beverages, and tobacco sector. The details are as follows:

* Food, beverages, and tobacco: 5.41% (yoy)
* Personal care and other services: 3.67% (yoy)
* Food and beverage services/restaurants: 2.21% (yoy)
* Health: 2.04% (yoy)
* Education: 1.99% (yoy)
* Household equipment, supplies, and routine maintenance: 1.89% (yoy)
* Recreation, sports, and culture: 1.50% (yoy)
* Housing, water, electricity, and household fuel: 1.16% (yoy)
* Transportation: 1.20% (yoy)
* Clothing and footwear: 0.85% (yoy)
* Information, communication, and financial services: 0.11% (yoy).