Update COVID-19 in Indonesia: 365,240 confirmed infections, 12,617 deaths (19 October 2020)
19 October 2020 (closed)
USD/IDR (14,697) +39.01 +0.27%
EUR/IDR (17,406) +48.41 +0.28%
Jakarta Composite Index (5,126.33) +22.92 +0.45%
The Consumer Confidence Index of Indonesia rose 0.9 percent in September 2013 after having fallen 8.4 percent in the previous month. In September, the index rose because Indonesian consumers are more confident about prospects of the Indonesian economy, while concerns about the increase of certain food prices eased. Purbaya Yudhi Sadewa, chief economist at the Danareksa Research Insititute, said that in September 77.4 percent of consumers were concerned about rising food prices, down from 82.5 percent in August.
The percentage of Indonesians that are concerned about higher fuel prices eased from 45.3 percent in August to 34.3 percent in September. However, the survey also indicated that consumers expect inflationary pressures to rise slightly over the next six months despite the latest inflation figures showing a moderating trend. People's expectation of inflationary pressures in the next couple of months is probably influenced by the arrival of Christmas and the New Year. These festivities always translate into more demand for clothes and food products, thus resulting in higher prices.
People's perception of the current economic situation fell 0.2 percent due to people's negative assessment of current employment opportunities. However, people's perception of Indonesia's future economic situation increased 1.5 percent in September. This means that Indonesians are generally more positive about the economic condition of Indonesia over the next six months.
As people are more confident about the near future, about 31.7 percent of consumers that were surveyed are planning to buy durable goods in the next six months. This constitutes a 30.4 percent increase from August. However, despite this significant rise, the figure is still below last year's result.
People's confidence in the ability of the government to conduct its tasks weakened 2.5 percent in September, after having risen 7.2 percent in August.