BI’s consumer confidence index stood at 125.9 in May

Photo Bank Indonesia

JAKARTA (TheInsiderStories) – Bank Indonesia’s (BI) Consumer Confidence Index (CCI) stood at 125.9 in May–the highest level since June 2000–due to confidence over current economic conditions and an upward trend in expectations, the central bank said on Wednesday. Last April, the consumer index was 123.7.

According to its components, the rise in CCI was due to the Current Economic Condition Index which rose by 2.9 points and Consumer Expectation Index up by 1.5 points.

Furthermore, pressure on price increases in the next three months is expected to rise slightly, as indicated by the three-month Price Expectation Index which rose 0.5 points from the previous month to 177.0.

Meanwhile, pressure on price increases in the next six months is expected to ease slightly indicated from the index which fell 2.5 points compared to the previous month survey to 166.5.

The survey results also indicate the portion of income used for savings increased in May 2017 compared to the previous month. The amount of savings is expected to increase in the next 6 months, although slowing down from the previous month.

Binaartha Securities Analyst Nafan Aji Gusta commenting the increasing of consumer optimism in May 2017 become positive sentiment for the market amid the escalating global uncertainty. (RF)