Cooking Oil Prices Reach Record High in December 2021

The government launched a single-price cooking oil program effective January 19, 2022. This was in response to soaring cooking oil prices in the preceding months.

Statistics Indonesia (BPS) reported a 33.78% year-on-year (yoy) increase in cooking oil prices in December 2021. The average retail price was Rp 21,125 per liter.

Besides cooking oil, BPS also recorded price increases in six other basic necessities. The next highest increase was in chili peppers (rawit), at 28.93% (yoy).

This was followed by mackerel (ikan kembung) at 9.37% (yoy), beef at 4.11% (yoy), wheat flour at 3.92% (yoy), sweetened condensed milk at 3.3% (yoy), and broiler chicken at 2.85% (yoy).

Meanwhile, four commodities experienced price decreases. The highest price drop was in red chili peppers at 22.78% (yoy). This was followed by chicken eggs at 5.33% (yoy), rice at 0.52% (yoy), and granulated sugar at 0.49% (yoy).