Core Inflation Rose in December 2022, Highest Since March 2017

The Central Statistics Agency (BPS) reported that the core consumer price index reached 111.21 in December 2022. Thus, the core component experienced 3.36% inflation compared to December 2021 (year-on-year/yoy).

This core inflation increased compared to November 2022, and was the highest since March 2017, as shown in the graph.

National headline inflation in December 2022 reached 5.51% (yoy), inflation in the government-regulated price component was 13.34% (yoy), and inflation in the volatile price component was 5.61% (yoy).

In December 2022, the core component contributed 2.2% to headline inflation, while the government-regulated price component contributed 2.36%, and the volatile component contributed 0.95%.

Furthermore, the energy component experienced 16.88% inflation (yoy) and the food component 5.59% (yoy) in December 2022.

The increase in Indonesia's inflation rate throughout 2022 was also influenced by the increase in global energy commodity prices, especially crude oil, which surged to exceed US$100/barrel. This also impacted the increase in fuel prices in Indonesia and many other countries.