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View all search resultsJune inflation ticks up as food prices climb
On an annual basis, headline inflation climbed to 1.87 percent, up from 1.6 percent in May.
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A chili seller sorts fresh picks for his display at a stall in Senen Market, Central Jakarta, on
June 10, 2024. (Antara/Akbar Nugroho Gumay)
I
ndonesia’s inflation edged up in June as food prices rose amid Idul Adha festivities and the start of school holidays, both of which boosted household consumption.
Statistics Indonesia (BPS) reported on Tuesday that the consumer price index (CPI) rose by 0.19 percent month-to-month (mtm) in June, following a 0.37 percent monthly deflation in May. This pushed the year-to-date inflation to 1.38 percent.
Food, beverages and tobacco were the main drivers of June inflation, contributing 0.13 percentage points to the monthly figure. This was primarily due to higher prices for rice, which added 0.04 percentage points, along with bird’s eye chili, shallots and tomatoes.
As a result, volatile food prices rose 0.77 percent mtm, after a sharp 2.48 percent deflation in May.
Transportation costs contributed an additional 0.01 percentage points to June inflation, driven by a 5.81 percent jump in airfares. However, this was partly offset by lower prices for sea and train travel, which fell by 16.96 percent and 4.2 percent, respectively, due to holiday discounts.
On May 23, Coordinating Economic Minister Airlangga Hartarto unveiled a new stimulus package aimed at supporting consumer spending in the second quarter and boosting gross domestic product (GDP) growth to 5 percent following a disappointing first quarter.
The initiative, effective in June and July, includes discounts on train, airplane and ferry tickets, as well as toll road discounts for around 110 million eligible drivers.
