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Cooking oil, airplane tickets drive inflation in May
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Passengers walk through Halim Perdanakusuma Airport. (ANTARA FOTO/Sigid Kurniawan)
I
ndonesia registered inflation of 0.24 percent in May, mainly driven by an increase in the price of airplane tickets and cooking oil, according to the Central Statistics Agency (BPS).
BPS head Suryamin said that cooking oil was one of several foodstuffs that had driven the inflation rate rise, besides broiler chicken, sugar, cigarettes, and eggs. The price of cooking oil is reportedly rising due to the high price of crude palm oil in the global market.
“It is caused by high demand and limited supply […] but the increase in the price of cooking oil is not too significant. We shall be able to maintain stocks for domestic needs,” he said on Wednesday in Jakarta.
The price of cooking oil increased 1.73 percent in May and contributed 0.02 percent to the inflation rate, according to BPS data. Meanwhile, an airplane ticket price increase triggered by the May holiday period contributed 0.06 percent to the inflation rate rise.
The year-to-date inflation rate reached 0.4 percent in May, the year-on-year figure currently sits at 3.33 percent while the core inflation rate stands at 0.23 percent.
President Joko “Jokowi” Widodo has instructed all relevant ministers to maintain the stability and price of staple food supplies, during Ramadhan when commodity demands usually peak. (sha/ags)
