Indonesian Consumers Remain Confident in January: Central Bank Survey

Indonesian Consumers Remain Confident in January: Central Bank Survey

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Jakarta — Indonesian consumers remained optimistic about their economic prospects in January, according to a survey from a central bank on Monday (06/02). ¬†Bank Indonesia’s Consumer Confidence Index decreased slightly to 115.3 in January from 115.4 a month earlier. A level of more than 100 points generally means consumers are optimistic of the country’s economy. ¬†Bank Indonesia conducted a month-long survey involving 4,600 respondents in 18 major cities in Indonesia to produce the index. It combines two indexes that seek to capture consumers’ view of the current economy and their expectation of the future. Consumers, however, expected the economy to deteriorate in the next six months due to slower economic growth and business prospect. ¬†Respondents ¬†also predict that price pressures would surge over the next three months, due to an increase in electricity and fuel prices. ¬†Indonesia’s annual inflation rate picked up to 3.49 persent in January from ¬† 3.02 percent in December.

Source: thejakartaglobe

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