BI Survey: Consumer Confidence in Economic Conditions Rises in April 2022

Bank Indonesia's (BI) April 2022 consumer survey indicates an increase in consumer confidence regarding economic conditions. The Consumer Confidence Index (CCI) stood at 113.1 in April, up from 111.0 the previous month.

This April increase marks the second time in 2022. A previous CCI increase occurred at the beginning of the year, in January 2022 compared to December of the previous year.

The CCI subsequently weakened in February and March. However, it remained in the optimistic zone (above 100) for seven consecutive months since October 2021.

The April 2022 CCI increase was driven by improved consumer perceptions of the current economy. This is indicated by the Current Economic Conditions Index (CECI), which recorded 98.9, higher than the previous month's 93.9.

In April 2022, the highest CCI increase was observed among respondents with monthly expenditures exceeding Rp5 million. Meanwhile, optimism among the Rp1-2 million and Rp4.1-5 million expenditure groups decreased, although it remained in the optimistic zone.

By age group, the majority of respondent age groups also showed an increase in the CCI. The largest increase occurred among respondents aged 51-60 years. Meanwhile, the CCI for the over-60 age group decreased and fell into the pessimistic zone.

Spatially, the April 2022 CCI increased in 9 surveyed regions, particularly in Bandar Lampung (23.0 points), Samarinda (14.6 points), and Denpasar (14.1 points).