Bank Indonesia: Consumer Optimism Increases Driven By Better Economic Conditions

JAKARTA – Bank Indonesia (BI) reports that based on the results of a survey conducted in April 2022, it was found that consumer confidence has increased in line with improving economic conditions.

Head of the BI Communications Department Erwin Haryono said this was reflected in the April 2022 Consumer Confidence Index (IKK) which was at the level of 113.1, an increase from March 2022 which was 111.0.

"The increase in IKK was observed in the majority of the expenditure categories, age groups, and respondents' education categories," he said in an official statement on Wednesday, May 11.

According to Erwin, spatially the increase in IKK occurred in most of the cities covered by the survey with the highest bookkeeping being in the city of Bandar Lampung, followed by the cities of Samarinda and Denpasar.

"Consumer confidence which increased in April 2022 was driven by improved consumer perceptions of the current economic conditions," he stressed.

Furthermore, Erwin explained that this increase was related to the perception of current income, job availability, and increased purchases of durable goods.

"Meanwhile, consumer expectations of future economic conditions remain at an optimistic level (a level of more than 100) although not as high as the previous month, supported mainly by income expectations," he concluded.