Consumer Confidence Increased by 18.7% in October 2021

Bank Indonesia (BI) reports that consumer confidence in economic conditions has strengthened and returned to optimistic levels. This is reflected in the Consumer Confidence Index (CCI), which reached 113.4 in October 2021, a 18.74% increase from the previous month's 95.5.

The increase in the CCI is in line with the increase in public mobility. This is because the government began easing restrictions on community activities (PPKM) as COVID-19 cases decreased.

This was also driven by an improvement in consumer perception of current economic conditions, as reflected in the Economic Condition Index (ECI) of 91.8 points in October 2021. This is a 26.3% increase compared to the previous month's 72.7 points.

In line with this, consumer expectations regarding economic conditions over the next six months have also improved. This is reflected in the Consumer Expectation Index (CEI), which reached 134.9 points, a 14.13% increase compared to the previous month's 118.2 points.

Based on respondent groups, the increase in the CCI in October 2021 occurred across all expenditure and age groups.

Based on expenditure groups, the highest increase in the CCI in October 2021 occurred in the group with expenditures exceeding Rp 5 million, increasing by 20.9% month-on-month (m-o-m) to 122.4 points. The lowest increase in the CCI was from the Rp 4.1-5 million expenditure group, at 16.3% (m-o-m) to 114.1 points.

In terms of age groups, the highest increase in the CCI was among respondents aged 41-50 years, increasing by 20.6% (m-o-m) to 111.3 points. The lowest increase in the CCI was among respondents over 60 years old, at 1.9% (m-o-m) to 101.9 points.

Spatially, the increase in the CCI in October 2021 occurred in almost all surveyed cities. The highest increases were observed in Banten (42.6 points), Makassar (34.3 points), and Banjarmasin (30 points).