Indonesia's Consumer Confidence Declines in February

TEMPO.CO, Jakarta - Bank Indonesia's survey of the Consumer Confidence Index (CCI) in February 2026 was 125.2, a decline from January. "Lower than the previous month's CCI, which was recorded at 127.0," said Head of Communication Department of Bank Indonesia, Ramdan Denny Prakoso in a written statement on Monday, March 9, 2026.

The CCI is calculated from the average of the Current Economic Conditions Index (CECI) and the Consumer Expectations Index (CEI). CEI was recorded at 134.4, a decrease from January. Meanwhile, CECI slightly strengthened to 115.9 monthly.

Based on expenditure groups, Bank Indonesia noted a decrease in all groups except for those spending Rp3.1-4 million per month, which increased monthly.

In addition, Bank Indonesia recorded an increase in consumer perceptions of current economic conditions, as reflected by the February 2026 CECI of 115.9. Bank Indonesia believes that the increase in the CECI in the second month was driven by increases in all of its components.

These components include the current income index (CII), the availability of jobs index (AJI), and the purchase of durable goods index (DGI), which increased by 125.0, 110.7, and 112.0, respectively, monthly.

Although consumer optimism about current conditions has increased, Bank Indonesia has noted a decline in public optimism about economic conditions over the next six months. This decline is reflected in the February 2026 CEI of 134.4, which fell from 138.8 in January.

Consumer confidence over the next six months is influenced by factors such as income expectations, job availability expectations, and business activity expectations. All three components decreased cohesively.

Respondents' perceptions of income expectations for the next six months, for example, stood at 140.7, a decrease from the previous month's 146.0.

Bank Indonesia also noted a decrease in the proportion of people's income allocated to consumption. The average propensity to consume ratio was recorded at 71.6 percent in February 2026. This achievement is lower compared to the proportion in the previous month, which was 72.3 percent.

Meanwhile, the debt-to-income ratio was 10.6 percent, which is lower than the previous month's ratio of 11.2 percent.

Bank Indonesia noted that the proportion of consumer income saved increased from 16.5 percent in January to 17.7 percent.

Read: Jakarta Eid Exodus Predicted to Peak on March 16-18

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