Indonesia’s Consumer Price Index (CPI) increased annually to 2.72% YoY in November 2025, down from 2.86% YoY in October 2025. However, the November 2025 annual inflation rate remained higher compared to November 2024. Core inflation stood at 2.36% YoY, and unchanged from the previous month. Key commodities contributing to November’s inflation were gold jewelry, cooking oil, and powdered coffee. Meanwhile, the volatile food component recorded the highest YoY inflation at 5.48%, mainly driven by rising prices of red chili and fresh fish. On the other hand, the administered price component rose 1.58% YoY, primarily supported by increases in PAM drinking water tariffs and machine-made kretek cigarettes (SKM).