Indonesia’s Consumer Price Index (CPI) recorded an annual inflation rate of 1.95% year-over-year (YoY) in April 2025, up from 1.03% YoY in March 2025. This realization exceeded the consensus estimate of 1.50% YoY. Core inflation increased slightly to 2.50% YoY in April from 2.48% YoY in March. Key contributors to core inflation included gold jewelry and automobiles. Meanwhile, the volatile food group saw inflation of 0.64% YoY in April, mainly driven by higher prices for bird’s eye chili, red chili, shallots, garlic, and coconut. The administered prices group posted a 1.25% YoY inflation rate, mainly from tap water tariffs, machine-made kretek cigarettes, and hand-rolled kretek cigarettes