Institute for Research on Economics and Society – Faculty of Economics and Business – University of Indonesia

Macroeconomic Analysis Series: Monthly Inflation, March 2024

March 4, 2024

Year-on-year (YoY) inflation in February 2024 was reported at 2,75% or lower compared to annual inflation in February 2023 which reached 5,47%. However, this month's inflation value is still higher than the previous month. The increase in YoY inflation in February 2024 compared to January 2024 was driven by increases in all sectors, except for the energy sector and the information, communications and financial services sectors. The sectors that experienced the highest YoY inflation were the foodstuffs sector (7,01%), the food, beverage and tobacco sector (6,36%), and the personal care and other services sector (3,09%). YoY inflation in the information, communication and financial services sector again decreased, inflation becoming higher from January 2024, namely decreasing from -0,11% to 0,13%.

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