Indonesian consumers more optimistic in November

[JAKARTA] Indonesian consumers were more upbeat in November than October because of improved economic conditions and ability to purchase durable goods, a central bank survey showed on Thursday.

Bank Indonesia's consumer index was at 122.1 in November, up from 120.7 in October.

A reading above 100 indicates consumers are optimistic.

About 4,600 people from 18 cities were surveyed.

The survey also showed consumers expect price pressures to increase in February, partly due to the government's plan to hike electricity tariff and fuel prices at the start of 2018.

Residents were expected to spend more on household consumption in the next three months, according to the survey.

Indonesia's annual inflation rate eased in November to 3.30 per cent, the lowest since December 2016, from 3.58 per cent in October.

REUTERS