JAKARTA, Dec. 1 (Xinhua) -- Indonesia recorded annual inflation of 2.86 percent in November, up from the previous month's 2.56 percent, the state statistics bureau BPS announced on Friday.
"This condition is in line with November last year, where inflation pressure came from high prices of necessities," said BPS Deputy for Balance Sheets and Statistical Analysis Edy Mahmud at a press conference.
Executive Director of the Communications Department of Bank Indonesia, Erwin Haryono, said that inflation in November remained within the central bank's target range of 2 to 4 percent.
"Bank Indonesia believes inflation will remain under control within the target range for the rest of 2023 and 1.5 to 3.5 percent in 2024," he said.
To control inflation, the central bank has raised the benchmark interest rate by 250 basis points from August 2022 to October this year, which is 6 percent currently. ■
