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​Communication Department​

5/3/2021 12:00 AM
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Headline Inflation Low in April 2021

Government Press Release

No. 23/116/DKom

Based on data published by BPS-Statistics Indonesia, the Consumer Price Index (CPI) accelerated to 0.13% (mtm) in April 2021 from 0.08% (mtm) the month earlier. Headline inflation was edged up in the reporting period by core inflation and administered prices despite milder inflationary pressures on volatile food.  Annually, the CPI was recorded at 1.42% (yoy), up slightly from 1.37% (yoy) in the previous period.  Moving forward, Bank Indonesia remains committed to maintaining price stability and strengthening policy coordination with the central and regional governments to control inflation in 2021 in line with the 3.0%±1% target, particular during the holy fasting month of Ramadan and Eid-ul-Fitr 1442 H.

Core inflation in April 2021 recorded 0.14% (mtm) inflation, thereby reversing the 0.03% (mtm) deflation in March 2021 The main driver of core inflation was gold jewellery in line with the rising global gold price and a seasonal spike in demand during Ramadan.  Annually, core inflation decreased slightly to 1.18% (yoy) in April 2021 from 1.21% (yoy) in March 2021.  Persistently low core inflation is a consequence of compressed domestic demand, exchange rate stability and policy consistency by Bank Indonesia to anchor inflation expectations.

Volatile foods (VF) experienced lower 0.15% (mtm) inflation in April 2021 compared with 0.56% (mtm) one month earlier Lower VF inflation stemmed from price corrections affecting horticultural commodities and rice at the onset of the harvesting season.  Nevertheless, a deeper VF inflation decline was offset by higher prices of purebred chicken meat and cooking oil as demand increased during Ramadan and international crude palm oil (CPO) prices tracked a rising trend.  Annually, VF inflation was recorded at 2.73% (yoy), up from 2.49% (yoy) in the previous period.

Inflationary pressures on administered prices (AP) in April 2021 increased to 0.11% (mtm) from 0.02% (mtm) in March 2021 The bump was triggered by higher cigarette prices, filtered clove cigarettes in particular, as the government hike of excise duties on tobacco was transmitted to cigarette prices, coupled with higher prices of household fuel.  Annually, AP inflation increased to 1.12% (yoy) from 0.88% (yoy) the month earlier.


Jakarta, 3rd May 2021

Head of Communication Department

Erwin Haryono

Executive Director

Information about Bank Indonesia

Tel. 021-131, Email:

Contact Center BICARA : (62 21) 131 e-mail :

Working hours: Monday to Friday, 08.00-16.00 West Indonesia Time

Halaman ini terakhir diperbarui 5/4/2021 5:39 PM
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