Indonesia’s annual inflation rate hits 7-year high
ISTANBUL (AA) – The annual inflation rate in Indonesia was at 4.94% in July, hitting its highest level since November 2015, when it had been 6.25%.
According to official figures released on Monday, the rate at which prices went up on a monthly basis was 0.64%.
The highest monthly price increase was in the food-beverage-tobacco group with 1.16%, while the transport item followed with 1.13%.
The data from the country’s statistics office also showed the producer price index rising by 11.8% in July on a yearly basis.
Following the pandemic and then the Ukraine war which began on February 24 this year, food and fuel prices have risen dramatically all over the world, resulting in unprecedented inflation in many countries of the world. Indonesia seems to be among those hit hardest.
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