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E. Java experiences deflation of 0.47%
SURABAYA: The consumer price index (CPI) in East Java decreased by 0
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SURABAYA: The consumer price index (CPI) in East Java decreased by 0.47 percent from 113.89 in March to 113.35 in April meaning the province is experiencing deflation.
The situation was revealed in a survey of 10 cities in the province conducted by the East Java office of the Central Statistics Agency (BPS).
Head of distribution statistics at the East Java office of the BPS, Adi Nugroho, said all 10 cities were experiencing deflation.
"The five commodities with the largest decrease are gold jewelry, rice, onions, chicken and chillies," he said.
"The gold price decreased after the rupiah strengthened against the US dollar. This has caused gold to no longer be considered a profitable investment."
Adi said gold jewelry owners tended to sell their jewelry, putting more pressure on the market price. - Antara
