Bank Indonesia (BI) released the latest data regarding Indonesian consumer confidence. Through a survey conducted by BI, the Consumer Confidence Index (IKK) in May 2022, which coincided with the fall of Eid al-Fitr, was at 128.9. It rose sharply compared to the previous month which was 113.1.
This figure is the highest in history. This increase occurred in perceptions of current income, job availability, and durable goods purchases.
“The IKK was monitored in all categories of expenditure, age, and education level of the respondents. Spatially, the increase in the IKK occurred in almost all cities covered by the survey, with the highest in Bandung, followed by Pangkal Pinang and Mataram,” said the BI report.
The strengthening consumer confidence in May 2022, continued the BI report, was driven by increasing consumer perceptions of the current economic conditions.
For information, the Consumer Confidence Index (IKK) is an index that reflects the average Indonesian consumer confidence regarding current economic conditions as well as consumer expectations in the coming period.
Head of the BI Communications Department Erwin Haryono said that the increase in the IKK was observed in all categories of expenditure, age, and education level of respondents.
“Spatially, the increase in IKK occurred in almost all cities covered by the survey, with the highest in Bandung, followed by Pangkal Pinang and Mataram,” said Erwin in Jakarta, Thursday (9/6/2022).
Furthermore, Erwin explained, the strengthening of consumer confidence in May 2022 was driven by increased consumer perceptions of the current economic conditions. The Current Economic Conditions Index (IKE) in May 2022 reached an optimistic level (>100) at 116.4, 17.5 points higher than the previous month which was 98.9.
According to him, the increase occurred in perceptions of current income, job availability, and durable goods purchases.
“The strengthening of consumer confidence in May 2022 was also driven by increasing consumer expectations of future economic conditions, especially expectations of future business conditions,” he said.
It was noted that the Economic Conditions Expectation Index (IEK) in May 2022 was 141.5, higher than 127.2 in April 2022. The increase in consumer expectations for future economic conditions was supported mainly by consumer expectations for future business conditions, increasing from 125.0 to 142.9 in May 2022.
 released the latest data regarding Indonesian consumer confidence. Through a survey conducted by BI, the Consumer Confidence Index (IKK) in May 2022, which coincided with the fall of Eid al-Fitr, was at 128.9. It rose sharply compared to the previous month which was 113.1.){kind=link}