Kao Indonesia boss warns economy struggling with supply- and demand-side pressures
Kao products line the shelves of a store in Jakarta: The Japanese consumer products maker is being squeezed at both ends by weak spending and higher costs. (Photos by Natsumi Kawasaki)
JAKARTA — Indonesia faces the prospect of “vicious” stagflation, the local head of a Japanese consumer products company has warned, with consumers scaling back spending as a depreciating currency and the Iran war drive inflation higher.