No. 28/69/DKom
Consumer Price Index (CPI) inflation in March 2026 remained within the target range of 2.5%±1%. Based on data released by BPS-Statistics Indonesia, the Consumer Price Index (CPI) in March 2026 recorded 0.41% (mtm) inflation, bringing annual inflation to 3.48% (yoy), lower than the previous month's realization of 4.76% (yoy). The well-maintained inflation within the target range reflects the consistency of monetary policy, as well as coordination between Bank Indonesia and the Government through the Central/Regional Government Inflation Control Teams (TPIP/TPID), as well as strengthening implementation of the National Food Security Program. Going forward, Bank Indonesia expects inflation to remain under control and within the 2.5%±1% target corridor in 2026 and 2027.
Core inflation remained under control. Core inflation in March 2026 remained subdued, recorded at 0.13% (mtm), lower than the 0.42% (mtm) realised in February 2026. The main contributors to the latest core inflation developments were lower international gold prices and anchored inflation expectations amid a seasonal spike in demand during the National Religious Holiday (HBKN) periode of Eid-ul-Fitr. Annually, core inflation in March 2026 was recorded at 2.52% (yoy), slightly down from 2.63% (yoy) the month earlier.
Volatile food (VF) inflation remained under control. VF inflation in March 2026 decelerated to 1.58% (mtm) from 2.50% (mtm) in the previous period. The inflation was primarily driven by commodities such as broiler chicken meat, rice and chicken eggs, in line with higher demand during Eid-ul-Fitr HBKN period. Annually, VF inflation was recorded at 4.24% (yoy), down from 4.64% (yoy) the month earlier. Moving forward, volatile food inflation is projected to remain under control, supported by close synergy between Bank Indonesia and the TPIP and TPID teams, as well as strengthened implementation of the Inflation Control and Food Security Movement (GPIPS).
Administered prices (AP) recorded inflation. Administered prices in March 2026 experienced 0.31% (mtm) inflation, following 0.03% (mtm) deflation in February 2026. AP inflation stemmed from petrol prices and intercity transportation fares in response to adjustments to non-subsidised petrol, coupled with increasing community mobility during the Eid-ul-Fitr period. Annually, AP inflation stood at 6.08% (yoy), down from 12.66% (yoy) the month earlier.
Jakarta, 1st April 2026
Communication Department
Ramdan Denny Prakoso
Executive Director
