Ahead Of Lebaran Retail Sales Crawling Up, Mamin Products Are Main Contributors

Illustration of food and drinks (Photo: Unsplash)

JAKARTA Bank Indonesia (BI) informs that the latest survey shows an increase in retail sales performance in March 2023.

Head of the BI Communications Department Erwin Haryono said this was reflected in the March 2023 Real Sales Index (IPR) of 215.2, or grew 4.8 percent year on year (yoy). According to him, this figure is higher than the index in the previous month of 0.6 percent.

The increasing retail sales performance was driven by the growth of food and beverage groups (mamin), tobacco, cultural and recreational goods, as well as clothing subgroups, while the information and communication equipment group was also recorded to be improving from the previous month even though it was still in the contraction phase," he said in a press statement, Wednesday, April 12.

It was stated that monthly retail sales are estimated to grow positively by 7.0 percent month to month (mtm). This book contradicts the previous month which was in a contraction phase of 3.4 percent.

"The increase occurred in all groups, especially in the information and communication equipment group, cultural and recreational goods, as well as food, beverages and tobacco in line with the period of Ramadan 1444 H, retail discount strategies, and smooth distribution that encourage increased domestic demand," he said.

Erwin added, in the period February 2023, IPR was recorded at 201.2 or on an annual basis, growing positively by 0.6 percent (yoy), improving compared to the previous month contracting by minus 0.6% (yoy).

Meanwhile, the increase occurred in the majority of groups, especially the clothing subgroup as well as the food, beverage, and tobacco group.

On a monthly basis, retail sales show improvement even though they are still in the contraction phase. Improvements mainly occur in information and communication equipment groups, clothing subgroups, and other household appliances groups in line with maintained demand.

Then, in terms of price, respondents estimate that inflationary pressures in May and August 2023 will decline.

The General Price Expectation Index (IEH) in May and August 2023 were recorded at 130.3 and 128.1, respectively, lower than 145.1 and 133.5 in the previous period.

"The decline is in line with the passing of the period of Ramadan and Eid al-Fitr 1444 H, as well as the smooth distribution of goods," Erwin concluded.