The Indonesian Chamber of Commerce and Industry projects that money circulation during Eid will reach 137.97 trillion rupiah ($8.33 billion), down from 157.3 trillion last year. The weakening purchasing power is also reflected in Bank Indonesia’s Consumer Confidence Index which dipped to 126.4 in February from 127.2 in January.

The usual festive mood of Eid al-Fitr holiday to mark the end of the Islamic holy month of Ramzan has been subdued in Indonesia this year as people grapple with soaring prices for food, clothing and essential goods.