BPS Reveals Jewellery Gold Prices Experiencing Continuous Inflation for 30 Consecutive Months

Jakarta — Ateng Hartono, Deputy for Statistics on Distribution and Services at the Central Bureau of Statistics (BPS), reported that jewellery gold prices have recorded month-on-month inflation for 30 consecutive months from September 2023 through February 2026.

In the national Consumer Price Index (IHK) structure, jewellery gold is classified within the Personal Care and Other Services expenditure category. This category has emerged as one of the primary contributors to inflation in February 2026, according to Hartono’s statement in Jakarta on Monday.

The Personal Care and Other Services category experienced monthly inflation of 2.55 per cent on a month-on-month basis, contributing 0.19 per cent to overall inflation in the previous month. Jewellery gold prices specifically recorded inflation of 8.42 per cent in February 2026, accounting for 0.19 per cent of total inflation contribution.

Hartono attributed the 30 consecutive months of inflation to surging gold prices in international markets. BPS data sourced from the World Bank Commodity Price Data (The Pink Sheet) and Bloomberg indicate that the upward trend in gold prices has persisted into early 2026, reaching record highs in February.

The latest price levels represent a significant increase compared with conditions in mid-2024. In July 2024, international gold prices stood at USD 2,398 per troy ounce (approximately IDR 40.36 million). According to Hartono, this represents an increase of more than 100 per cent in gold prices over the period.