Jakarta (ANTARA) - Indonesia experienced a deflation of 0.03 percent month-to-month (mtm) in May 2024, a first for the country since August 2023, Statistics Indonesia (BPS) reported on Monday.

"Deflation occurred in May 2024, after the last deflation occurred in August 2023," acting BPS Head Amalia Adininggar Widyasanti said at a press conference here.

On a month-to-month basis, the Consumer Price Index (CPI) dipped from 106.40 in April 2024, to 106.37 in May. Furthermore, annual inflation reached 2.84 percent (year-on-year/yoy), while calendar year inflation stood at 1.16 percent (year-to-date/ytd).

Widyasanti informed that rice had the biggest contribution to monthly deflation of 0.15 percent.

"In May 2024, rice experienced deflation again, namely 3.59 percent, and contributed 0.15 percent to deflation," she said.

According to her, though rice production is starting to decline, Indonesia registered rice deflation again because stock availability in the country is still adequate.

After rice, transportation had the second-largest contribution to monthly deflation in May at 0.04 percent. The transportation group recorded a deflation of 0.38 percent.

In the transportation group, inter-city transport fares (0.03 percent), air transport fares (0.02 percent), and train fares (0.01 percent) contributed to deflation.

Other commodities that added to deflation included chicken meat and fresh fish, with a contribution of 0.03 percent each; tomato and bird's eye chili, with a contribution of 0.02 percent each; and papaya and potato, with a contribution of 0.01 percent each.

Based on regional distribution, as many as 24 of Indonesia's 38 provinces experienced inflation, Widyasanti informed. Meanwhile, 14 others experienced deflation.

"The highest inflation of 2.00 percent occurred in South Papua, while the deepest deflation occurred in Banten at 0.52 percent," she said.

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Translator: Bayu Saputra, Raka Adji
Editor: Rahmad Nasution
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