REPUBLIKA.CO.ID, JAKARTA -- A survey conducted by Bank Indonesia (BI) last month shows that the country's household consumption growth is not yet strong, as reflected by the annual growth of the consumer confidence index, standing at -8.4 percent.
The weak consumer confidence is chiefly influenced by the current economic condition index, which remains pessimistic about durable consumption and income, the central bank said on its official website on Monday.
But the survey indicates consumers' rising optimism about economic conditions in the coming six months, in terms of income, job opportunities and business activities.
The survey also anticipates easing pressure from price hikes in the next three months, particularly on the groups of transportation, communication, financial services, processed food, beverage, cigarettes and tobacco.
But the survey also suggests that pressure from price hikes will increase in the next six months, until April 2014, along with rising demand. During the visit, the EU High Representative inaugurated the "EU-ASEAN Cooperation Office" at the ASEAN Secretariat in Jakarta.