BPS: Gold experiences deflation in March after 30 consecutive months of inflation
Jewellery gold commodities experienced deflation. After 30 consecutive months of inflation, gold commodities are now experiencing deflation for the first time.
Jakarta (ANTARA) - The Central Statistics Agency (BPS) states that gold commodities experienced deflation in March 2026 after consistently recording inflation for 30 consecutive months.
“Gold jewellery commodities experienced deflation. After 30 consecutive months of inflation, gold commodities are now experiencing deflation for the first time,” said Deputy for Distribution and Services Statistics at BPS, Ateng Hartono, during the BPS Release press conference in Jakarta on Wednesday.
The deflation rate for gold in March 2026 was recorded at 1.17% (month-to-month/mtm) with a contribution to overall inflation of 0.03%.
With this deflation record, jewellery gold became the commodity providing the deepest deflationary contribution to the personal care and other services group, with a deflation contribution of 0.37%.
The personal care and other services group also became one of the main groups contributing to deflation in March 2026, with a deflation rate of 0.21% and a deflationary contribution of 0.01%.
BPS recorded that the deflation rate for the personal care and other services group in March 2026 is the lowest in the last four years.
Meanwhile, monthly inflation in March 2026 fell to 0.41% (mtm) from 0.68% (mtm) in February 2026.
The Consumer Price Index (CPI) increased from 110.57 in February 2026 to 110.95 in March 2026.
The expenditure group contributing the most to monthly inflation was food, beverages, and tobacco with inflation of 1.07% and a contribution to inflation of 0.32%.
The dominant commodities driving inflation in that expenditure group were fresh fish, broiler chicken meat, rice, broiler chicken eggs, cayenne peppers, cooking oil, and beef.
In addition, there were commodities that still contributed to deflation in March 2026, including air transport tariffs and jewellery gold, each at 0.03%.
Meanwhile, on an annual basis, the Indonesian economy experienced inflation of 3.48% (year-on-year/yoy). Calendar year inflation was recorded at 0.94% (year-to-date/ytd).