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Indonesian consumer confidence inches higher ahead of election
Bank Indonesia said it reflects improved public expectations in the country’s economy.
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Staple support: A woman and her daughter leave the post office in Banda Aceh, Aceh, on May 12, 2023 carrying rice aid. The government will continue distributing free rice to 21.35 million families until the end of the year, with each receiving 10 kilograms per month. (Antara/Ampelsa)
B
ank Indonesia’s consumer confidence index (IKK) inched to 125 points in January from 123.8 points in the previous month, which the central bank said reflects improved public expectations in the country’s economy.
The latest figure also exceeded the 123 points recorded in January last year, the central bank data also show.
“The latest Consumer Survey conducted by Bank Indonesia in January 2024 indicates increasing consumer confidence in the economic conditions compared with December 2023,” BI spokesperson Erwin Haryono said in a statement on Tuesday.
Read also: Rice vanishes from shelves amid delayed harvest
The increase in consumer confidence is backed by improving metrics in people’s expectations of current income and job availability.
Expectations of future job availability remains on a positive note, albeit with a dip in regard to income.
The central bank also saw the country’s durable goods spending index drop to 112.1 points in January from 113 points in the previous month.
