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Coffee, gold push up inflation to 1.95 percent in April
Higher demand for coffee and gold drove April's 1.95 percent rise in CPI, according to BPS, with the prices of the two commodities recording global highs in recent months due to external factors such as climate impacts and geopolitical tensions.
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A farmer harvests Arabica coffee beans on Thursday at his farm at the foot of Mount Puntang in Bandung regency, West Java. The Association of Indonesian Coffee Exporters (AEKI) has forecast a drop in coffee prices in 2025 due to overproduction and carryover stocks from 2023. (Antara/Raisan Al Farisi)
C
offee and gold are among the commodities that drove the consumer price index (CPI) to increase 1.95 percent year-on-year (yoy) in April on the back of higher demand.
Pudji Ismartini, deputy of distribution and services at Statistics Indonesia (BPS), briefed the press on Friday that the price of the food, beverages and tobacco commodity group had increased 2.17 percent yoy, contributing 0.64 percentage points to headline inflation of 1.95 percent.
“The commodities that contributed the most to inflation in this group are powdered coffee, cooking oil and cayenne pepper,” she said.
Global coffee prices have skyrocketed over the past year due to the combined impacts of climate change affecting harvests, increased demand and supply chain disruptions.
Arabica coffee futures slipped on Friday to US$4 per pound (around 450 grams) from the historic high of $4.33 per pound recorded in February. The latest figure still marked a significant 95 percent jump from the per-pound ballpark of $2 recorded in May 2024, according to Trading Economics.
Read also: Global coffee trade grinding to a halt, hit hard by brutal price hikes
“Other [commodities] that have dominantly contributed to inflation is gold jewelry,” Pudji said.
