Indonesian consumers were less confident in the economy in April as they worried about rising prices, according to surveys by the central bank and brokerage firm Danareksa.
Bank Indonesia's survey of 4,700 households in 18 major cities across the country, which was released on Thursday, showed the consumer confidence index was down 4.8 points to 102.5, the lowest level since November 2010, when it stood at 102.2.
A score of more than 100 means consumers are largely upbeat about the future of the nation's economy, while a score below 100 indicates pessimism is more prevalent. "Consumer optimism about economic conditions is falling. It is approaching the pessimistic level," the central bank said.
An index that measures consumers' perceptions of economic conditions fell 4.8 points to 97.6 last month. The index was 102.4 in March. Another index that measures consumers' intention to buy durable goods sank to 92.8 points from 100.3.
A similar survey released earlier this week by Danareksa Research Institute, which polled 1,700 households from six regions, found that consumer confidence had fallen to 83.4, from 84.8 in March. "Concerns over rising prices for food stuffs increased," Danareksa said.
About 73.4 percent of survey respondents said they were worried about possible rises in food prices, up from 65.1 percent in March.
Annual inflation accelerated at its fastest pace in seven months in April following uncertainty about the government's plan to raise the price of subsidized fuel. The Central Statistics Agency (BPS) reported on Tuesday that consumer prices rose 4.5 percent last month from the same period a year earlier. In March, prices climbed 3.97 percent.
Meanwhile, consumers' faith in the government's ability to perform its duties weakened in April. That index fell to 74.6, from 76.1 the previous month, the Danareksa survey found.