TEMPO.CO, Jakarta - Coordinating Minister for Economic Affairs Darmin Nasution said the inflation rate indicates that Indonesia's economy is able to survive global economic turmoil throughout 2018. Indonesia, he said, has managed to maintain inflation rates year after year.

"For November, we might be able to say less than 3 percent," he said during a CEO Network event at Ritz Carlton Hotel in Jakarta, Monday, December 3.

In addition to inflation, Darmin said that the year-to-date economic growth as of the third quarter was 5.17 percent, or higher than the same period last year.

The minister said that existing data suggest other indicators and socio-economic factors such as unemployment, poverty, gini ratio, Human Development Index, are consistent and improving. "It's fair to say that our economy is growing well," he said.

Previously, the Central Statistics Agency (BPS) reported that inflation in October reached 0.28 percent. From January to October, the average inflation is 2.22 percent, while the annual rate was 3.16 percent. The BPS is scheduled to announce the inflation rate for November 2018 this afternoon.

Meanwhile, Bank Indonesia (BI) said that based on a price monitoring survey, inflation rate until the fourth week of November 2018 reached 0.18 percent on a monthly basis. Meanwhile, the annual rate of inflation reached 3.14 percent ((yoy) and on a year-to-date rate from January to November is 2.41 percent.

ANTARA