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Jakarta Post

Consumer confidence up 1.5 percent to 102.3 in January

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, February 1, 2019   /   04:13 pm
Consumer confidence up 1.5 percent to 102.3 in January People buy beef at Pasar Minggu Market in South Jakarta. (JP/Viriya Paramita Singgih)

The consumer confidence index (CCI) climbed 1.5 percent month-on-month (mom) to 102.3 from 100.7 in December, reflecting an increase over three consecutive months, according to a survey conducted by the Danareksa Research Institute (DRI).

The present situation index (PSI) and the expectation index (EI) were also up by 1.3 percent mom and 1.7 percent mom, respectively, to 86.7 and 114.0.

“In our survey, consumers gave more positive assessments on the current state of the economy and the job market. In addition, they were also more upbeat over the prospects for the national and local economies over the next six months,” DRI said in a press statement released on Friday.

The survey reveals that 63.3 percent of consumers consider high food prices a major negative aspect to the local economy over the last three months, down from 66.8 percent when they were surveyed in December, while 37.7 percent were worried about job scarcity from 39.1 percent in December.

Respondents mostly expected inflationary pressures to decline over the next six months as the index measuring consumer sentiment toward general prices edged down 0.2 percent to 176.7.  

“This decline reflects lower prices of basic foodstuffs, a decline in transportation costs after the holiday season and a reduction in non-subsidized fuel prices,” the institute said

The buying intention index, which tracks consumer plans to purchase durable goods over the next six months, edged lower to 185.5 in January, following a 0.8 percent increase the previous month. (bbn)