Indonesian consumers are less optimistic in June: Bank Indonesia

[JAKARTA] Indonesian consumers were less optimistic in June because of limited job availability and a belief things would not improve over the next six months, a survey by the central bank showed on Tuesday.

Bank Indonesia's consumer index stood at 122.4 in June. The May reading was 125.9, the highest since the survey began in June 2000.

A reading above 100 indicates consumers are optimistic. The last time the index was below 100 was in October 2015.

About 4,600 respondents from 18 major cities participated in the June survey.

It found that consumers expected economic conditions over the next six months would be slow because of few jobs as well as a decrease in income and business activities.

Consumers involved in the survey predicted that prices would slightly fall in September, but they would increase in the next six months.

Indonesia's annual inflation rate slightly picked up to 4.37 percent in June as demand increased in the days leading to the Eid al-Fitr holiday at the end of Ramadan.

The rate in May was 4.33 per cent.

REUTERS