Indonesia's annual inflation rate hits 7-year high

ISTANBUL

The annual inflation rate in Indonesia was at 4.94% in July, hitting its highest level since November 2015 -- 6.25%.

According to official figures on Monday, the rate 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.