Jakarta: The latest edition of the Consumer Survey conducted by Bank Indonesia (BI) in October 2019 indicated that consumer optimism had been maintained, with the Consumer Confidence Index remaining in optimistic territory (>100) at a level of 118,4 in the reporting period.
Based on conditions in the previous period, however, consumer optimism had retreated from 121,8.
Consumers have remained upbeat based on their perception of current economic dynamics and their consumer expectations concerning future economic dynamics.
"The Current Economic Condition Index (CECI) primarily weighed down by income and job availability," The central bank said in a written statement released on Tuesday, November 5, 2019.
Furthermore, consumer expectations concerning future economic dynamics remained in optimistic territory, despite moderating in terms of business activity in the upcoming 6 months.
The survey respondents predicted a slight build-up of inflationary pressures in the next 3 months (January 2020) in line with the cyclical spike in demand for goods and services during beginning of year period.
The Survey also showed how consumers expected an accumulation of inflationary pressures in the next 6 months as seasonal demand for goods and services spikes during beginning of Fasting Month in the end of April 2020.