BPS: Gold Jewellery Experiences Deflation for Three Consecutive Months
The Indonesian Central Statistics Agency (BPS) noted that gold jewellery commodities experienced deflation for three consecutive months from March to May 2026, with monthly deflation rates of 1.17 per cent, 3.76 per cent, and 2.67 per cent, respectively.
“In May 2026, gold jewellery experienced deflation of 2.67 per cent, contributing 0.06 per cent to the deflationary rate. This commodity has undergone deflation for three consecutive months from March to May 2026,” stated Pudji Ismartini, Deputy for Methodology and Statistical Information at BPS, in Jakarta on Tuesday.
Gold jewellery provided the deepest deflationary contribution within the personal care and other services group. In May 2026, the personal care and other services group again experienced deflation of 0.74 per cent, with a deflationary contribution of 0.05 per cent.
This development is in line with international gold prices, which also declined in May 2026. Consequently, the decline in global gold prices has now persisted for three consecutive months.
The expenditure group primarily driving monthly inflation was food, beverages, and tobacco, with an inflation rate of 0.39 per cent and a contribution of 0.12 per cent.
Breaking down the components, core inflation stood at 0.22 per cent, providing the largest inflationary contribution of 0.14 per cent. Meanwhile, government-regulated prices experienced inflation of 0.52 per cent, and volatile prices experienced inflation of 0.22 per cent.
On a year-on-year (yoy) basis, the Consumer Price Index (CPI) rose from 108.07 in May 2025 to 111.40 in May 2026, resulting in an annual inflation rate of 3.08 per cent.
Regarding its components, core inflation was 2.59 per cent annually, providing the largest inflationary contribution of 1.66 per cent. Government-regulated prices saw annual inflation of 2.07 per cent with a contribution of 0.40 per cent, while volatile prices experienced annual inflation of 6.24 per cent, contributing 1.02 per cent to the total.