Many Indonesian citizens expect the cost of living to rise in 2023.

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Adi Ahdiat 19/12/2022 12:30 WIB

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According to an Ipsos survey, many Indonesian citizens feel that economic conditions in 2023 will be more difficult due to the rising cost of living.

Indonesian Respondents' Views on the 2023 Economic Conditions

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Many Indonesian citizens expect the cost of living to rise in 2023.

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Indonesian Respondents' Views on the 2023 Economic Conditions

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Many Indonesian citizens appear to feel that the cost of living will increase in 2023. According to an Ipsos survey of approximately 1,000 respondents, 75% predict that vehicle fuel prices will rise again next year.

More than half of the respondents also predict price increases in food, electricity and gas utilities, and other household expenses, as shown in the graph.

Furthermore, many Indonesian respondents believe that inflation will rise again next year (73%), unemployment will increase (72%), tax burdens will rise (52%), and bank interest rates will be higher than they are now (51%).

This phenomenon is not unique to Indonesia; it's occurring globally. In a survey of 36 countries, the majority feel that economic conditions in 2023 will be more challenging than this year.

According to Colin Strong, head of Ipsos' behavioral science research team, concerns about rising living costs stem from the world's current state of crisis.

"Currently, we are living in a multi-crisis situation. We are facing a cost-of-living crisis, a climate change crisis, and the Covid-19 pandemic has shown how vulnerable we are to unseen threats," said Colin in the report *Feeling the Pressure, Understanding Consumers during Inflationary Times* (November 2022).

"Our environment is constantly changing; we live without a fixed pattern and can no longer rely on old beliefs. We need to learn to live by constantly adapting to rapid change," he concluded.

This Ipsos survey was conducted online between October 21 and November 4, 2022. The survey involved 24,471 respondents from 36 countries across the Americas, Europe, Africa, and Asia. Approximately 1,000 respondents were from Indonesia.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."