Consumer price index growth cooled to 2.88 percent year-on-year in July despite ongoing pressure from high global oil prices, according to the latest report from Statistics Indonesia (BPS).
Motorists line up for fuel at a gas station owned by state-owned oil and gas company Pertamina in Depok, West Java, on March 31, 2026, as the government announced limits on subsidized fuel sales to counter the impact of the United States-Israeli war on Iran. (Reuters/Ajeng Dinar Ulfiana)
Inflation in Indonesia has cooled down, despite ongoing pressure from high global oil prices, according to the latest report from Statistics Indonesia (BPS).Consumer price index (CPI) growth slowed to 2.88 year-on-year (yoy) in July, BPS official Ateng Hartono revealed in a press conference on Monday, well within the government’s and Bank Indonesia’s (BI) target range of 2.5 plus/minus 1 percent.
Ateng said July inflation was “mainly driven by three [product] groups”, namely food, beverages and tobacco; transportation; and personal care and other services.
The food, beverages and tobacco group recorded yoy inflation of 2.97 percent due primarily to price increases for fresh fish, cooking oil, rice, cigarettes and other goods.
