Consumers Rated Their Income as Improved in October 2021

Bank Indonesia (BI) reported that consumer perception of their income improved in October 2021. This is reflected in the Current Income Index, which reached 100.5 last month. This value increased by 31.03% compared to September 2021, which stood at 76.7 points.

The Current Income Index's optimistic level is the first since April 2020. This increase is in line with the easing of Community Activity Restrictions (PPKM) in various cities, particularly in Java and Bali.

The index increased across all spending groups. The highest Current Income Index was in the group with expenditures above Rp 5 million per month, reaching 111.8 points.

Individuals with expenditures of Rp 4.1 - 5 million had a Current Income Index of 105.5. Those with expenditures of Rp 3.1 million - Rp 4 million had a Current Income Index of 100.3.

The Current Income Index for the Rp 2.1 - 3 million expenditure group was 98.3. Meanwhile, the Current Income Index for the Rp 1-2 million expenditure group was 91.3 points.

Furthermore, the Current Income Index also increased across all age groups. The highest Current Income Index was in the 20-30 age range, at 104.4 points. The lowest was in the over 60 age group, at 83.2 points.

The Current Income Index is one of the components used to calculate consumer confidence. The central bank recorded a Consumer Confidence Index of 113.4 in October 2021.