Jakarta. The Central Statistics Agency (BPS) reported that Indonesia experienced a monthly deflation of 0.12 percent in September 2024. Meanwhile, the year-on-year inflation rate stands at 1.84 percent, with a calendar year inflation rate of 0.74 percent.

“September 2024's deflation is more pronounced compared to August 2024 and marks the fifth deflationary period of the year,” said Acting Head of BPS Amalia Adininggar Widyasanti during a press conference at the BPS office on Tuesday.

The Consumer Price Index (CPI) decreased from 106.06 in August 2024 to 105.93 in September 2024.

The largest contributions to deflation came from the food, beverage, and tobacco expenditure group, which experienced a deflation of 0.59 percent and contributed 0.17 percent to the overall deflation in September 2024.

Indonesia Reports 0.03 Pct Deflation in August 2024

“Key commodities contributing to deflation in September 2024 include red chili, bird's eye chili, chicken eggs, chicken meat, and tomatoes,” she added.

Amalia noted that the decline in fuel prices also contributed to September's deflation. Gasoline and diesel experienced deflation rates of 0.72 percent and 0.74 percent, respectively.

“The drop in gasoline prices accounted for a deflation contribution of 0.04 percent. This represents the deepest deflation rate for gasoline since December 2023,” she said.

Conversely, commodities contributing to inflation included fresh fish and ground coffee, each contributing 0.02 percent to inflation. Tuition fees contributed 0.01 percent, while air transportation and machine-made clove cigarettes both contributed 0.1 percent.

September's deflation was driven by volatile prices and government-regulated prices. The volatile price component experienced a deflation of 1.34 percent, contributing 0.21 percent to overall deflation.

The government-regulated price component saw a deflation of 0.04 percent, contributing 0.01 percent to deflation, with gasoline being the primary commodity affecting this component. Core inflation recorded a deflation of 0.16 percent, contributing 0.1 percent to overall deflation, with ground coffee and academic/college fees being the dominant commodities.

Spatially, 14 provinces experienced inflation, while 24 provinces recorded deflation. The highest inflation occurred in North Maluku at 0.56 percent, whereas the deepest deflation was observed in South Papua at 0.92 percent.

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