Indonesia’s Consumer Price Index (CPI) experienced inflation of 1.65% YoY in March 2025, following deflation of 0.09% YoY in February 2025. This realization was lower than the consensus forecast of 1.16%. Core inflation remained steady at 2.48% YoY in March 2025. Commodities contributing to core inflation included jewelry, cooking oil, ground coffee, and rice with side dishes. Meanwhile, the volatile food group experienced inflation of 0.37% YoY in March 2025, primarily supported by increases in bird’s eye chilies, fresh fish, and shallots, contributing 0.32% to inflation in March 2025. The administered price group experienced deflation of 3.16% YoY, with significant contributions from electricity tariffs, air transportation fares, and non-subsidized fuel prices.