Country's inflation declined to 24.9 percent in August from the peak of 28.2 percent in June 2008, the Central Bank reported today. The Bank attributed the drop to decline in food prices as well as to tight monetary policy.
The Central Bank says it had tightened the reserve money targets in September and expects to meet its third-quarter goal keeping interest rates steady for 19 months straight. The Central Bank expects to contain inflation further as the international commodity prices ease and become more favorable on both demand and supply sides.