In July 2024, Statistics Indonesia (BPS) recorded Indonesia’s inflation rate at 2.13% annually (yoy), decreasing from 2.51% in the previous month. The Fiscal Policy Agency (BKF) of the Ministry of Finance that despite the lower inflation rate, the government will remain prudent of risks that may impede the inflation growth. Meanwhile, the core inflation slightly increased to 1.95% yoy from 1.90% yoy in June 2024.