(MENAFN) Indonesia faced a decline in its consumer price index due to growing food prices and transport costs, CPI logged a 7.18 percent in August, a drop from July's 7.26 percent.
On month, inflation speeded at a slower pace of 0.39 percent in August compared with 0.93 percent in July, indicating that the control of inflation has improved, according to the national statistics bureau.
Furthermore, food prices soared by 9.26 percent annually in August, utility cost scaled up by 6.38 percent and transportation, communication and financial services went up by 8.17 percent.
To sum things up, The Indonesian central bank projects annual inflation to ease to 4.5 percent by the end of the year end and GDP to grow at 4.9 percent for the whole year.
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