Post-Eid al-Fitr Holiday, Consumer Optimism Strengthens in May 2022

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Vika Azkiya Dihni 10/06/2022 15:30 WIB

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According to Bank Indonesia, the easing of PPKM restrictions during the Eid al-Fitr holiday boosted consumer optimism in May 2022.

Indonesia Consumer Confidence Index (May 2021 - May 2022)

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Indonesia Consumer Confidence Index (May 2021 - May 2022)

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Bank Indonesia (BI) recorded a Consumer Confidence Index (CCI) of 128.9 in May 2022. This is higher than the previous month's level of 113.1.

This indicates a strengthening of consumer optimism regarding economic conditions.

"The increased optimism in May 2022 is believed to be driven by increased public mobility due to the absence of restrictions during this year's Eid al-Fitr holiday," BI wrote in its report released on Thursday (June 9, 2022).

The increase in the CCI in May 2022 was supported by an improvement in consumer perception of the current economy.

According to BI data, the Current Economic Conditions Index (CECI) reached an optimistic level of 116.4 in May 2022, higher than the previous month's pessimistic level of 98.9 (below 100).

In addition, the strengthening of the CCI was also driven by increased consumer expectations regarding future economic conditions.

This is reflected in the Consumer Expectation Index (CEI) for May 2022, which was recorded at 141.5, higher than the previous month's 127.2.

The CCI increased across all respondent expenditure groups, particularly among respondents with monthly expenditures exceeding Rp5 million.

The CCI increase also occurred across all respondent age groups, with the highest increase among respondents over 60 years old.

Spatially, the increase in the May 2022 CCI occurred in 17 surveyed cities, particularly in Bandung (31.0 points), followed by Pangkal Pinang (30.9 points) and Mataram (25.4 points).

(Also read: [Increased Public Mobility, Especially to Open-Space Tourist Destinations](https://databoks.katadata.co.id/datapublish/2022/05/19/mobilitas-warga-meningkat-terutama-ke-tempat-wisata-ruang-terbuka))

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."