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5/3/2024 12:00 AM
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Inflation Under Control in April 2024

Government Press Release

No. 26/90/DKom 

Consumer Price Index (CPI) inflation in April 2024 was maintained within the 2.5%±1% target corridor. Based on inflation data published by BPS-Statistics Indonesia, CPI inflation in April 2024 was recorded at 0.25% (mtm), or 3.00% (yoy) annually. Inflation was maintained within the target range as a result of monetary policy consistency and close synergy to control inflation between Bank Indonesia and the (central and regional) Government in the National and Regional Inflation Control Teams (TPIP and TPID) through the National Movement for Food Inflation Control (GNPIP) in various regions. Moving forward, Bank Indonesia is confident that inflation will remain manageable in the 2.5%±1% target corridor in 2024.

Low core inflation was maintained.  Core inflation in April 2024 stood at 0.29% (mtm), up from 0.23% (mtm) the month earlier, primarily in response to a seasonal spike in demand during the Eid-ul-Fitr festive period together with higher international commodity prices, particularly gold.  The main contributors to core inflation in the reporting period were gold jewellery, cooking oil and granulated sugar.  Annually, core inflation in April 2024 was recorded at 1.82% (yoy), increasing from 1.77% (yoy) the month earlier.

Volatile food (VF) recorded deflation. VF deflation in April 2024 stood at 0.31% (mtm) after recording 2.16% (mtm) inflation the month earlier. The main contributors to VF deflation in the reporting period were red chili, rice, purebred chicken eggs and bird's eye chili. Price corrections were primarily attributable to the ongoing harvesting season, particularly for various chili varieties and rice. Notwithstanding, deeper deflation was offset by higher prices of shallots, tomatoes and garlic. Annually, VF inflation was recorded at 9.63% (yoy), down from 10.33% (yoy) the month earlier. Moving forward, Bank Indonesia expects VF inflation to fall given the ongoing harvesting season, supported by inflation control synergy with the TPIP and TPID teams through the GNPIP movement in various regions, thus strengthening efforts to stabilise food prices.

Administered prices (AP) tracked an upward trend in the reporting period. Administered prices in April 2024 recorded 0.62% (mtm) inflation, up from 0.08% (mtm) the month earlier due to higher airfares, intercity travel and machine-rolled clove cigarettes in line with increasing mobility during the Eid-ul-Fitr festive period and the transmission by producers of higher excise duties on tobacco products to consumers. Annually, AP inflation increased to 1.54% (yoy) from 1.39% (yoy) in the previous period.

 

Jakarta, 2nd May 2024

Communication Department

Fadjar Majardi

Director​

Lampiran
Kontak

Contact Center BICARA : (62 21) 131
E-mail : bicara@bi.go.id
​​​​Working hours: Monday to Friday, 08.00-16.00 West Indonesia Time

Halaman ini terakhir diperbarui 5/8/2024 10:11 PM
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