Statistics Indonesia (BPS) recorded month-to-month inflation in December 2024 at 0.44 percent, higher than the November 2024 inflation of 0.30 percent and also exceeding the inflation in December 2023.
The food, beverage, and tobacco expenditure group was the main contributor to inflation in December 2024 with an inflation figure of 1.33 percent. This group contributed 0.38 percent to monthly inflation.
BPS Deputy for Statistics and Services, Pudji Ismarti, revealed that the consumer price index (CPI) rose from 106.33 in November 2024 to 106.80 in December 2024.
“The December 2024 monthly inflation of 0.44 percent reflects a higher increase compared to the previous month and the same period last year,” Pudji told a press conference in Jakarta, on Thursday, January 2, 2025.
On a year-on-year (yoy) and year-to-date (ytd) basis, inflation in December 2024 was recorded at 1.57 percent, showing an increase compared to December 2023.
The dominant commodities that triggered inflation in this group were chicken eggs and red chilies, each contributing 0.06 percent. Other commodities such as fresh fish, cayenne pepper, shallots, and cooking oil contributed 0.03 percent each. Meanwhile, garlic, green mustard greens, chicken meat, and rice contributed 0.01 percent to inflation.
Other inflation components
Pudji also cited that inflation of 0.44 percent in December 2024 was driven by volatile food components. The core component recorded inflation of 0.17 percent with a contribution of 0.11 percent, triggered by the increase in the price of cooking oil, gold jewelry, and ground coffee.
Meanwhile, the administered prices component experienced inflation of 0.03 percent, but its contribution to overall inflation was not significant.
The increase in inflation in December 2024 closed the year with an increasing inflation trend compared to last year. The main factor driving inflation is the increase in food prices, which often becomes a concern ahead of the New Year period. With these results, BPS highlights the importance of price stabilization, especially for commodities that affect people’s basic needs, so that inflation will remain under control in 2025.
