Bye New Year! Sales Of Direct Ecerant Drop To Minus Level In January

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA Bank Indonesia (BI) reports that retail sales performance is predicted to contract in January 2023 by minus 2.1 percent month to month (mtm).

Head of the BI Communication Department Erwin Haryono said the decline in sales performance in January 2023 compared to December 2022 was influenced by the decline in all indicator groups.

"The deepest decline in information and communication equipment groups, followed by clothing subgroups, and cultural and recreational goods groups is in line with seasonal patterns due to the normalization of post-celebration requests for Christmas and New Year's National Religious Holidays (HBKN)," he said in a release today, Thursday, February 9.

Erwin explained that the pressure that occurs on a monthly basis is actually contradictory when viewed based on the annual pattern. He revealed that retail sales performance is estimated to increase by 1.7 percent year on year (yoy) to 213.2 in January.

"This is driven by the increasing growth of food, beverage, and tobacco groups," he said.

Meanwhile, in December 2022 retail sales grew positively 0.7 percent yoy, although lower than the growth in the previous month which was 1.3 percent yoy.

"The group of information and communication equipment as well as cultural and recreational goods has increased, while other household appliances and spare parts and accessories have improved even though they are still in the contraction phase," he said.

Meanwhile, in terms of price, respondents estimate inflationary pressure in March 2023 will increase while June 2023 will decline.

"The General Price Expectation Index (IEH) in March 2023 was recorded at 139.1, an increase compared to February 2023 of 134.6, driven by an increase in prices during Ramadan 1444 H. Then, the IEH in June 2023 was recorded at 138.3, a decrease compared to May 2023 of 140.2, "concluded Erwin.