Economist who is also Head of Mandiri Institute Bank Mandiri Andre Simangunsong said that the savings rate of lower class people will start to increase again in mid-May 2025 after touching its lowest level in April 2025.
He said that according to Mandiri Spending Index data as of May 15, 2025, the savings index of the lower class was recorded at 79.6 index points. However, this figure is still lower than last year's achievement of 85.9 index points in May 2024.
"For almost the entire 2025, this savings (index), especially for the lower group, has declined slightly. However, we see in this week (mid) of May, the savings rate of the lower group has started to increase," said Andre Simangunsong in Jakarta, Monday.
"Hopefully this will be a positive catalyst in the future that people will start to get higher income," he continued .
Meanwhile, the savings index of the middle and upper classes continued to decline compared to the position in April 2025. The savings index of the two groups of people was also lower than last year.
The savings index of the middle class decreased from 100.9 index points in May 2024 to 100.8 index points in May 2025, while the savings index of the upper class decreased from 96.7 index points in May 2024 to 93.3 index points in May 2025.
