It was reflected by a bump in the Consumer Confidence Index (CCI) to 119.9 in the reporting period from 119.1 in November 2022.
"Consumer confidence strengthened in December 2022 on the back of a higher Current Economic Condition Index (CECI), which increased across all components, particularly the Current Income Index," BI Communication Department Executive Director Erwin Haryono said in a media release on Monday.
"Meanwhile, the Consumer Expectation Index (CEI) remained solid, with an increase recorded in terms of the Income Expectation Index," BI stated.
Annual Inflation
Based on data published Statistics Indonesia, Consumer Price Index (CPI) inflation in December 2022 stood at 0.66% (mtm), with headline inflation in 2022 thus reaching 5.51% (yoy) from 1.87% (yoy) in 2021.This exceeds the 3.0%±1% target, primarily impacted by the knock-on effect of subsidised fuel price adjustments in September 2022.
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