Shallots, the Biggest Contributor to Monthly Deflation in June 2024

The Central Statistics Agency (BPS) reported that Indonesia experienced a month-to-month (mtm) deflation of 0.08% in June 2024.

"The June 2024 deflation is deeper than in May 2024 (mtm) and is the second deflation in 2024," said the Acting Head of BPS Secretariat, Imam Machdi, in an online press conference on Monday (1/7/2024).

Based on commodities, shallots contributed the largest deflationary impact, at -0.09%.

This was followed by tomatoes, contributing 0.07% to inflation, broiler chicken 0.07%, chicken eggs 0.02%, and garlic 0.01%.

"Meanwhile, commodities that contributed to inflation include cayenne pepper and red chilies, with contributions of 0.02% each," said Imam.

(Read also: Indonesia's Inflation Falls to 2.51% in June 2024)

Furthermore, the groups contributing to deflation last month were gold and jewelry, potatoes, cucumbers, kretek machine-made cigarettes (SKM), airfare, fresh fish, and instant coffee, each with a contribution of 0.01%.

BPS noted that in June 2024, monthly deflation occurred in 12 provinces, while the remaining 26 provinces experienced monthly inflation.

The highest monthly inflation occurred in Papua Pegunungan Province at 2.11% (mtm). Meanwhile, the deepest monthly deflation occurred in South Papua Province at -1.11% (mtm).

(Read also: Economic Growth and Inflation Targets in the 2025 APBN Macroeconomic Assumptions)