Rice, the Biggest Contributor to Monthly Deflation in May 2024

The Central Statistics Agency (BPS) reported that Indonesia experienced a 0.03% month-to-month (mtm) deflation in May 2024.

According to the Acting Head of BPS, Amalia Adininggar Widyasanti, this is the first deflation since August 2023.

"The largest contributor to monthly deflation was the food, beverage, and tobacco group, with deflation of 0.29% and contributing 0.08% to the overall deflation," said Amalia in a press conference on the BPS YouTube channel on Monday (3/6/2024).

Based on commodities, rice was the largest contributor to deflation at -0.15%.

Chicken, fresh fish, and intercity transportation fares each contributed -0.03%, followed by tomatoes at -0.02%.

BPS noted that in May 2024, monthly deflation occurred in 14 provinces, while the remaining 24 provinces experienced monthly inflation.

The highest monthly inflation occurred in South Papua Province at 2% (mtm). The deepest monthly deflation occurred in Banten Province at -0.52% (mtm).

"There were also commodities that contributed to inflation, including gold jewelry, shallots, and red chilies, with inflation contributions of 0.05% each," said Amalia.