JAKARTA (Reuters) – Indonesia’s consumers remained upbeat in February, a central bank survey showed on Wednesday.
Bank Indonesia’s consumer index was 117.1 in February, much higher than the January reading of 115.3.
A reading above 100 in the survey indicates consumers are optimistic. About 4,600 respondents from 18 major cities participated in the survey.
The survey said consumers expected economic conditions to improve over the next six months, driven mainly by an increase in business activity and job availability.
Consumers involved in the survey predict that price pressures would decrease in May because of subdued prices of basic commodities by the government.
Indonesia’s annual inflation rate climbed to 3.83 percent in February from 3.49 percent in January.
(Reporting by Nilufar Rizki; Editing by Subhranshu Sahu)