Bank Indonesia predicts that inflation in August will be lower than the 0
Bank Indonesia predicts that inflation in August will be lower than the 0.93 percent inflation rate recorded in July.
"We will see a lower inflation rate this month because the new school year and Ramadhan are over. We have no annual festivities this month," the central bank's economic and monetary policy department executive director Juda Agung said in Jakarta on Friday as quoted by tribunnews.com.
According to Central Statistics Agency (BPS) data, the consumer index price stood at 0.93 percent throughout July 2014 while calendar year inflation for January-July stood at 2.94 percent.
BPS data also revealed that year-on-year inflation stood at 4.53 percent in July.
Meanwhile, core component inflation in July stood at 0.52 percent and 4.64 percent year-on-year.
It was based on spending on processed food, beverages, cigarettes and tobacco, which collectively contributed 1 percent to July's inflation, followed by transportation and communication with 0.88 percent. (nfo)
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