Inflation year-on-year (YoY) in September 2024 was reported at 1,84% or lower compared to annual inflation in September 2023 which reached 2,28%. Furthermore, this month's inflation rate was also lower than the previous month, August 2024 which was 2,12%.
The decline in YoY inflation in September 2024 compared to August 2024 was driven by a decrease in prices in several sectors, namely the foodstuff sector; the food, beverage, and tobacco sector; and the energy sector. The foodstuff sector and the food, beverage, and tobacco sector, although experiencing the highest YoY inflation decline this month—by -1,24 percentage points and -0,81 percentage points—are still the sectors with the highest YoY inflation values of 1,53% and 2,57%. This value is lower than August 2024 of 2,76% for foodstuffs and 3,39% for food, beverages, and tobacco. Furthermore, the energy sector experienced deflation of 0,29% after recording an inflation trend in the previous three months. In addition, the information, communication, and financial services sector is still the sector that has experienced deflation since the beginning of 2024, and this month it is at -0,28%.
Read more:
