Bank Indonesia Survey: Retail Sales Increase Supported By Food Group

JAKARTA - Bank Indonesia (BI) reports that based on survey results, the Real Sales Index (IPR) in June 2022 grew 15.4 percent year on year (yoy) to 229.1.

Head of the Communications Department Erwin Haryono said this was in line with the increase in sales of the food, beverage and tobacco group, the clothing sub-group and the spare parts and accessories group.

“On a monthly basis, retail sales are expected to fall again minus 2.1 percent (month to month/mtm). The decline mainly occurred in the food, beverage and tobacco groups as well as the cultural and recreational goods group, amid increasing sales of the spare parts and accessories group as well as motor vehicle fuel," he said in a press statement, Monday, July 11.

According to Erwin, in the May 2022 retail sales survey (SPE) period, retail sales continued to grow positively by 2.9 percent to 234.1, supported by the cultural and recreational goods group, food, beverages and tobacco, as well as the motor vehicle fuel group.

On a monthly basis, retail sales fell by minus 2.1 percent as the seasonal pattern for the National Religious Holiday (HBKN) ended.

"The decline occurred in the clothing subgroup, food, beverage and tobacco group, as well as information and communication equipment," he said.

Meanwhile, in terms of prices, respondents estimate that inflationary pressures in August and November 2022 (3 and 6 months to come) will decrease.

The General Price Expectation Index (IEH) in August and November was recorded at 127.5 and 132.1, respectively, or down from 141.7 and 137.5 in the previous month.

"Some respondents stated that the decline was caused by the increasingly smooth distribution of goods," concluded Erwin.