Prices of Rice, Rawit & Airplanes Increasingly Expensive, Inflation Soaring! News – 1 hour ago

Jakarta, CNBC Indonesia – Inflation in October 2023 will reach 0.17% month on month (mtm) and 2.56% year on year (yoy). The biggest contributors to inflation are rice, petrol and cayenne pepper.

“Inflation in October 2023 will reach 0.17%,” said BPS Deputy for Distribution and Services Statistics, Pudji Ismartini in a press conference, Thursday (1/11/2023)

Several events that influence inflation include El Niño which will still remain at a moderate level in October 2023. Then the increase in the BI 7 days reverse repo rate to 6%. Apart from that, there is an increase in non-subsidized fuel prices.

This also pushed up the prices of several goods, thereby contributing quite significantly to inflation. Among others rice with 0.06%, gasoline 0.04%, cayenne pepper 0.03% and air freight rates 0.02%.

“Other commodities that contributed to inflation of 0.01% were red chilies, gold jewelry, pump drinking water rates and green mustard greens,” he explained.

Inflation October 2023 by Region (m-to-m).  (BPS Doc)Photo: Inflation October 2023 by Region (m-to-m). (BPS Doc)
Inflation October 2023 by Region (m-to-m). (BPS Doc)

Distribution of inflation by region, of the 90 CPI cities, 69 cities experienced inflation, 42 of which experienced inflation higher than the national level, while 21 other cities experienced deflation.

The market consensus gathered by CNBC Indonesia from 11 institutions estimates that inflation in October 2023 will reach 0.26% compared to the previous month (mtm). The poll results also estimate that inflation (year on year/yoy) will be at 2.65% this month. Core inflation (yoy) is estimated to reach 2.00%.

For the record, inflation in September 2023 was recorded at 2.28% (yoy) and 0.19% (mtm) while core inflation reached 2.00% (yoy).

[Gambas:Video CNBC]

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