Jakarta –
Indonesia experienced inflation of 0.08% throughout October 2024. Plt. Head of the Central Statistics Agency (BPS), Amalia Adininggar Widyasanti, said that the biggest contributor to inflation in October came from the personal care and other services group with inflation of 0.94% and contributing to inflation of 0.06%.
“The dominant commodity that drives inflation in this group is gold jewelry which contributes to inflation of 0.06%.” he said at a press conference in Jakarta, Friday (1/11/2024).
The increase in gold prices on international market commodities throughout October is said to have been reflected in the domestic market. It is known that throughout October, gold prices repeatedly set record highs.
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Furthermore, other commodities that contribute to inflation are predominantly contributed by the prices of rice with side dishes, ground coffee and cooking oil.
“Other commodities that contributed to inflation include purebred chicken meat with inflation of 0.04%, shallots with inflation of 0.03%, tomatoes, rice and side dishes with inflation of 0.02%, ground coffee, cooking oil, machine-rolled kretek cigarettes, and purebred chicken eggs contributed to inflation of 0.01% each.” explained Amalia.
Inflation recorded in October ended Indonesia’s deflationary trend in the last five months. As many as 28 out of 38 provinces in Indonesia experienced inflation, the rest experienced deflation. The highest inflation occurred in Maluku at 0.65%. Meanwhile, the deepest deflation occurred in North Maluku at 1.05%.
(eds/eds)
Inflation Hits Indonesia: Gold Jewelry and Rice, Oh My!
Well, well, well! It seems that Indonesia has given us a little gift for October, and I’m not talking about a box of delightful pastries! No, folks, we’re talking about inflation! Yes, the kind that makes your wallets feel a bit tighter—like after a hearty meal at an all-you-can-eat buffet, and you (foolishly) kept ordering dessert!
According to an April Fool’s press release—I mean, the Central Statistics Agency (BPS) head honcho, Amalia Adininggar Widyasanti—the inflation rate for October 2024 clocks in at a staggering 0.08%. Amalia, who must be rolling in the statistics, reports that the biggest culprit for this month’s inflation is none other than the glitzy world of personal care and services, with an inflation of 0.94%! Who knew looking good could cost us this much? Probably those home beauty kits and a new facial cream that promises to make one look “youthful,” or at least like they’ve had an extra-shot espresso!
Drumroll, please! The star of the inflation show? It’s none other than the illustrious gold jewelry, which apparently has been taking the market by storm. It contributed a neat little 0.06% towards our October inflation party. A shoutout to the international gold market for sending those prices skyrocketing like a teen’s hopes on prom night!
Now, Amalia did mention that while gold is the belle of the ball, other contenders for inflation contributions include the ever-elusive kitchen staples like rice with side dishes, ground coffee, and cooking oil. When your kitchen staples start being the source of inflation, you know it’s serious! How much are we paying for rice now? Is it sprinkled with actual bits of gold? A treasure hunt in every grain!
But wait, there’s more! Let’s not forget the side players: purebred chicken meat (inflation of 0.04%), shallots (0.03%), and a plethora of other underdogs, including tomatoes, rice, and smoking-hot kretek cigarettes, all contributing an inflation of 0.01%! You know it’s bad when even your cigarettes are inflating faster than your high school crush’s ego after prom!
Now, on to the geographical gossip: it turns out that out of the 38 provinces in Indonesia, 28 have succumbed to inflation, with the highest inflation reported in Maluku at a stunning 0.65%. Better be careful if you’re living there—might need an inflation-proof vest! Meanwhile, on the other side of the spectrum, North Maluku has scoffed at inflation with a deflation rate of 1.05%. If only we could bottle up that deflation and sell it —“Inflation Be Gone!”—I’d be a millionaire!
And thus, October wraps up with a bang— or perhaps more of a whimper —as Indonesia bids farewell to its deflationary trend that lingered for the past five months. Spoiler Alert: No, inflation isn’t going away anytime soon. Because if money grows on trees, someone forgot to water them!
In summary, while gold might shimmer and rice might be considered a never-ending staple, inflation is still the world’s most unwanted guest, barging into our economy with a boisterous “Surprise!” So, let’s keep our eyes on the market and our wallets close. Until next time, keep laughing, keep loving, and think twice before splurging on that shiny new gold ring!
(/eds/eds)
Jakarta –
Indonesia’s inflation rate saw a slight increase of 0.08% during October 2024, marking a pivotal shift in the country’s economic landscape. According to Amalia Adininggar Widyasanti, the acting head of the Central Statistics Agency (BPS), the personal care and other services sector emerged as the primary driver of this inflation spike, registering a notable inflation rate of 0.94%, which accounted for an inflation contribution of 0.06%.
“The standout commodity fueling this inflation surge was gold jewelry, contributing significantly to the overall inflation with an impact of 0.06%,” Amalia stated during a press briefing held in Jakarta on Friday, November 1, 2024.
The notable rise in gold prices in the international commodities market throughout October is believed to have been mirrored in domestic market trends, as the month was marked by gold prices consistently reaching unprecedented highs.
Furthermore, other commodities that have played a role in driving inflation encompass rice dishes, ground coffee, and cooking oil, indicating a broader impact on consumer goods. “Other contributors to inflation included purebred chicken meat with a rate of 0.04%, shallots at 0.03%, and tomatoes, rice, and side dishes each at 0.02%. Ground coffee, cooking oil, machine-rolled kretek cigarettes, and purebred chicken eggs raised inflation by 0.01% individually,” Amalia detailed, illustrating the intricate dynamics within the market.
October’s inflation marks the conclusion of Indonesia’s deflationary trend that spanned the previous five months. Within this period, 28 out of 38 provinces reported inflation, while the remaining provinces faced deflation. The province of Maluku experienced the highest inflation rate at 0.65%, whereas North Maluku reported the most significant deflationary figure at 1.05%.
**Title: Navigating Inflation in Indonesia: An Interview with Amalia Adininggar Widyasanti**
**Editor:** Good afternoon, Amalia! Thank you for joining us today to discuss the recent inflation figures in Indonesia. The Central Statistics Agency reported an inflation rate of 0.08% for October 2024. Can you explain what factors contributed most significantly to this inflation?
**Amalia Adininggar Widyasanti:** Good afternoon, and thank you for having me. Yes, the inflation rate of 0.08% in October is indeed affected by several factors. The primary contributor was the personal care and other services group, which had an inflation rate of 0.94%, accounting for 0.06% of the overall inflation. A significant part of this stems from increasing gold jewelry prices, which have been influenced by international market trends.
**Editor:** That’s interesting! So, gold jewelry seems to be the star performer in driving the inflation rate higher. How have international gold prices influenced the domestic market?
**Amalia:** Exactly. Throughout October, international gold prices have reached record highs, which directly impacted local markets. As gold becomes more expensive globally, we see that reflected domestically, leading consumers to pay more for items like gold jewelry, thus contributing to inflation.
**Editor:** Besides gold jewelry, what other commodities were responsible for this inflationary trend?
**Amalia:** Aside from gold jewelry, other essential commodities contributing to inflation included the prices of rice with side dishes, ground coffee, and cooking oil. For instance, purebred chicken meat and shallots also played a role, though to a lesser degree. It’s important to note that when kitchen staples start affecting inflation rates, it reflects a significant economic concern for households.
**Editor:** That’s a sobering thought, especially for families relying on these staples. Now, in terms of geographical impact, you mentioned that 28 out of 38 provinces experienced inflation. What was the highest inflation rate recorded, and where was it?
**Amalia:** The highest inflation rate recorded in October was in Maluku at 0.65%. In contrast, North Maluku was the only province that saw deflation, with a rate of 1.05%. This disparity highlights how varying regional factors can significantly affect inflation across the country.
**Editor:** Thank you for that insight, Amalia. With October marking the end of a five-month deflationary trend, what can we expect moving forward? Should Indonesians brace for more inflationary challenges ahead?
**Amalia:** It’s challenging to predict the full trajectory of inflation. While October did see a slight uptick, ongoing global economic conditions, particularly commodity prices, will continue to play a crucial role. Therefore, it is essential for the government to monitor these trends closely and implement measures that will help stabilize the economy.
**Editor:** Thank you, Amalia, for sharing your expertise and insights into Indonesia’s current inflation situation. It’s clear that both consumers and government policymakers have a lot to consider as we move forward.
**Amalia:** Thank you for having me. It’s crucial for us all to stay informed and contribute to discussions about our economic future.
**Editor:** Absolutely! We’ll be keeping a close watch on this development. Thank you again!
**Amalia:** Thank you!
