JAKARTA. Inflation in February 2024 soared 2.75% year-on-year (yoy) and 0.37% month-on-month (MoM), as stated in Indonesia Statistics (lit. Badan Pusat Statistik/BPS) issued today (1/3).

M. Habibullah, Deputy of Production Statistic Division of BPS, mentioned that the yearly-increased inflation was detected across all provinces in Indonesia. The highest inflation took place in South Papua, reaching 4.61% yoy, while the lowest was also in Southwest Papua, of 1.81% yoy.

Furthermore, Habibullah said that the annual inflation was seen in core component, government-regulated price component, and fluctuating price component. Inflation that hit fluctuating price component, reaching 8.47% yoy, was still the main drive with the highest inflation (yoy) in February 2024.

Meanwhile, the commodities that primarily drove yearly inflation in February 2024 were food, beverages, and tobacco products. This commodity group contributed 1.79% to yearly inflation in February 2024.

“The commodities that predominantly contributed to inflation include rice, red chili, imported chicken, tomato, garlic, and imported chicken egg,” Habibullah listed.

In addition, BPS also warned about the potential inflation in Ramadhan (approximately from March 10 to April 9, 2024). It is supported by inflation historical data, which shows how inflation often occurred in Ramadhan in previous years. “Be aware of price surge in general following Ramadhan month,” said Habibullah. (KR/ZH)