Consumer Prices Fall for Four Consecutive Months: Weakening Purchasing Power?

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Adi Ahdiat 05/09/2024 12:36 WIB

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The Consumer Price Index (CPI) has fallen for four consecutive months from May to August 2024. BPS attributes this to increased supply. However, other parties believe weakening purchasing power is th

Indonesia Consumer Price Index (January-August 2024)

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Indonesia Consumer Price Index (January-August 2024)

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According to the Central Bureau of Statistics (BPS) report, the national Consumer Price Index (CPI) has fallen for four consecutive months during the period of May-August 2024.

The CPI is an indicator used to measure changes in the prices of goods and services purchased by consumers, calculated based on the results of BPS's cost of living survey. If the CPI rises, it means inflation is occurring; if the CPI falls, it means deflation is occurring.

According to Mohammad Faisal, Executive Director of the Center of Reform on Economics (CORE) Indonesia, the monthly deflation that occurred throughout May-August 2024 reflects a decrease in consumer purchasing power.

"Indeed, household consumption is now slower, and this is caused by a decrease in purchasing power, which is reflected and indicated by the four consecutive months of deflation," Faisal told *Katadata*, Thursday (5/9/2024).

However, according to Pudji Ismartini, Deputy for Distribution and Service Statistics at BPS, the current deflation is not caused by a decrease in purchasing power, but rather by an increase in the supply of goods and services.

"The four-month deflation phenomenon is more evident on the supply side, meaning it is still occurring on the supply side. If this is then [influenced] by people's income, we need to further investigate to prove this assumption," said Pudji, as reported by *Antara*, Monday (2/9/2024).

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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Consumer Prices Fall for Four Consecutive Months: Weakening Purchasing Power?

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