Food and Transportation Drive August 2022's Annual Inflation Rate

Economics & Macro

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Dzulfiqar Fathur Rahman 01/09/2022 16:40 WIB

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Consumer Price Index (CPI) for food and transportation groups led the annual inflation rate in August 2022.

Annual Inflation/Deflation Rate by Group (August 2022)

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Food and Transportation Drive August 2022's Annual Inflation Rate

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Annual Inflation/Deflation Rate by Group (August 2022)

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According to a report by the Central Bureau of Statistics (BPS), the annual inflation rate for food in August 2022 reached 7.73% (year-on-year/yoy), the highest among other consumer goods and services groups.

In August 2022, several food commodities experienced price decreases, including shallots, red chilies, and cayenne peppers. However, BPS Head Margo Yuwono stated that the prices of rice and chicken eggs were still increasing. These two commodities have a significant weight in inflation calculations.

Based on data from the Strategic Food Price Information Center (PIHPS), the average price of rice is estimated to have reached Rp11,900/kg on Thursday (1/9/2022), increasing by 1.27% compared to the beginning-of-year price. Meanwhile, the price of chicken eggs is estimated to have increased by 3.63% to Rp31,350/kg during the same period.

Besides food, the transportation group also experienced fairly high annual inflation, namely 6.62% (yoy) in August 2022.

Transportation costs also have the potential to increase further, along with signals from the government to raise the price of subsidized fuel oil (BBM), namely Solar and Pertalite.

However, not all Consumer Price Index (CPI) groups experienced inflation. The CPI for information and financial services recorded an annual deflation of 0.29% (yoy) in August 2022.

Overall, the general annual inflation rate also eased to 4.69% (yoy) in August 2022, compared to the previous month, which was still 4.94% (yoy).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Food and Transportation Drive August 2022's Annual Inflation Rate

Food and Transportation Drive August 2022's Annual Inflation Rate

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Food and Transportation Drive August 2022's Annual Inflation Rate

Food and Transportation Drive August 2022's Annual Inflation Rate

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