Indonesia Consumer Confidence Dips in February, Remains Above Trend
Indonesia’s consumer confidence index (CCI) slipped to 125.2 in February 2026, down from January’s 127.0, according to Bank Indonesia data. Despite the month-over-month decline, the index remains well above its 12-month average of 120.2, reflecting continued optimism among households. The latest figure comes as inflationary pressures persist and policy uncertainty lingers ahead of the second quarter.
Big-Picture Snapshot
Drivers this month
- Household income expectations: +0.8pp
- Job availability perceptions: -0.6pp
- Price expectations: -0.3pp
Policy pulse
The CCI’s 125.2 reading in February stands comfortably above the neutral 100 mark set by Bank Indonesia, indicating ongoing consumer optimism. The index remains 5.0 points above its 12-month average.
Market lens
Indonesian equities saw muted reaction as the CCI retreated from January’s peak. Market participants interpreted the dip as a pause rather than a reversal, with the index still in expansionary territory. The rupiah held steady, reflecting confidence in underlying economic momentum.
Foundational Indicators
Drivers this month
- February CCI: 125.2
- January CCI: 127.0
- December CCI: 124.0
- August CCI: 118.1
- 12-month average: 120.2
Policy pulse
Bank Indonesia maintains a neutral stance, with the CCI’s current level suggesting no immediate need for policy adjustment. The index’s resilience above 120 since December supports the central bank’s steady approach.
Market lens
Bond yields remained stable after the release. Investors focused on the index’s sustained strength over recent months, viewing the February dip as a normalization after January’s high.
Chart Dynamics
Forward Outlook
Scenario probabilities
- Bullish (CCI rebounds above 127.0): 20–30%
- Base case (CCI stabilizes 123–126): 55–65%
- Bearish (CCI drops below 120): 10–15%
Policy pulse
With the CCI holding well above 120, Bank Indonesia is unlikely to shift its policy stance in the near term. The central bank continues to monitor household sentiment as a key barometer for domestic demand.
Market lens
Currency markets showed little volatility following the CCI release. The rupiah’s stability reflects investor confidence in Indonesia’s consumer-driven growth, even as sentiment cools from January’s peak.
Closing Thoughts
Drivers this month
- Household income expectations remain robust
- Job market perceptions softened slightly
- Price expectations eased
Policy pulse
The CCI’s sustained strength above the neutral mark supports the central bank’s current policy stance. Policymakers will watch for further shifts in sentiment as inflation and external risks evolve.
Market lens
Equity and currency markets absorbed the February CCI dip with composure. Investors remain focused on the broader trend of resilient consumer sentiment, which continues to underpin Indonesia’s economic outlook.
Key Markets Reacting to Consumer Confidence
Indonesia’s consumer confidence index influences a range of asset classes, from equities to currencies. The following symbols, verified from Sigmanomics, have shown sensitivity to shifts in household sentiment. Each represents a distinct market segment, offering insight into how consumer confidence shapes trading dynamics.
- AAPL — U.S. consumer tech bellwether, often moves in tandem with global risk sentiment shifts tied to emerging market confidence.
- USDJPY — Yen pairs react to Asian consumer sentiment, with risk-on flows favoring higher-yielding currencies when confidence is strong.
- BTCUSD — Bitcoin’s price action often correlates with shifts in risk appetite, including those driven by emerging market consumer data.
| Year | CCI (ID) | BTCUSD (YoY %) |
|---|---|---|
| 2020 | 85.8 | +305% |
| 2022 | 113.1 | -64% |
| 2024 | 121.6 | +154% |
| 2026 | 125.2 | +37% |
FAQ: Indonesia Consumer Confidence Dips in February, Remains Above Trend
- What is Indonesia’s latest consumer confidence reading?
- Indonesia’s consumer confidence index registered 125.2 in February 2026, down from January’s 127.0, but above its 12-month average.
- How does the February figure compare to recent months?
- The February index is 1.8 points lower than January but 7.1 points higher than August 2025, showing a resilient uptrend despite the latest dip.
- Why is consumer confidence important for Indonesia’s economy?
- Consumer confidence gauges household sentiment on income, jobs, and prices, serving as a leading indicator for domestic demand and economic growth.
Indonesia’s consumer confidence remains robust, with February’s reading signaling continued optimism despite a slight pullback.
Updated 3/9/26
This has been drafted with AI assistance and then thoroughly reviewed, refined, and approved by our human editorial team to ensure accuracy, and originality.
- [1] Bank Indonesia, Consumer Confidence Index, February 2026 release. Data verified via Sigmanomics database and official central bank publications.
February’s CCI print of 125.2 marks a 1.8-point decline from January’s 127.0, but stands 5.0 points above the 12-month average of 120.2. The index has climbed 7.1 points since August 2025, when it registered 118.1. December’s 124.0 reading set the stage for the recent uptrend, which peaked in January before the latest pullback.
Compared to June 2025’s 117.5, the index has gained 7.7 points, underscoring a broad improvement in sentiment over the past eight months. The February figure remains well above the neutral threshold, signaling continued consumer confidence despite the recent dip.