BI Survey Calls September's Retail Sales Down, Indications There Are Fuel Factors

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Bank Indonesia (BI) reports that the retail sales performance as reflected in the September 2022 Real Sales Index (IPR) has contracted 0.9 percent month to month (mtm) from August 2022.

BI Communications Department Director Junanto Herdiawan said the condition was influenced by several factors.

"This is happening in line with the decline in the spare parts and accessories group, the food, beverages and tobacco group as well as motorized vehicle fuel (BBM)," he said in an official statement on Tuesday, October 11.

According to Junanto, the opposite happens when viewed on an annual basis or year on year (yoy) which has increased. He said, the September 2022 IPR was 200 or grew 5.5 percent yoy. That level is said to be higher than the previous month's growth of 4.9 percent year on year.

"The increase is mainly supported by the growth in sales of food, beverages, and tobacco groups, improvements in sales of other household appliances groups, as well as information and communication equipment groups," he said.

Junanto detailed that in August 2022 retail sales performance will continue to grow positively. This is reflected in the IPR in August 2022 which was recorded at 201.8 or grew 4.9 percent yoy. The positive performance of retail sales was supported by the increasing growth of food, beverages and tobacco groups, amid the growing growth of spare parts and accessories, sub-sport groups, as well as groups of cultural and recreational goods.

On a monthly basis, retail sales growth in August 2022 also recorded a positive 0.8 percent mtm, after experiencing a contraction of 3.1 percent mtm in the previous month, mainly supported by improvements in food, beverage and tobacco groups, as well as parts and accessories groups.

In terms of prices, respondents estimate that inflationary pressures in November 2022 tend to be stable and February 2023 will decline.

General Price Expectation (IEH) November 2022 was recorded at 135.4, relatively stable from 135.3 in the previous month.

"Meanwhile, the February 2023 IEH was recorded at 138.7 or lower than the previous month of 144.7," concluded Junanto.