Difficult Times for Indonesian Consumer Consumption

May 24, 2024, 09.25 PM | Reporter: Dendi Siswanto, Rashif Usman

ILUSTRASI. With the Spring Festival approaching, the Spring Festival market supply system is optimized to increase the proportion of direct supply, reduce circulation links and costs, stabilize the market price of Spring Festival goods, and ensure cheap and good quality goods for the public in Lianyungang City, east China's Jiangsu Province, 25 January 2021.

Esther Sri Astuti, Executive Director of the Institute for Development of Economics and Finance (Indef), also believes that household consumption growth after the elections, Ramadan, and Eid will be relatively lower. This is exacerbated by inflation from the correction of the rupiah and the rise in global oil prices.

With the predicted stagnation of consumption in the second quarter of 2024, this will impact economic growth. Esther projects that economic growth in the second quarter of 2024 will be around 5.05%, slowing down compared to the previous quarter, which was 5.11%.

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Editor: Syamsul Azhar