Bank Indonesia Estimates Retail Sales In November 2023 To Increase

Bank Indonesia (Photo: dock. Antara)

JAKARTA - Bank Indonesia (BI) estimates that retail sales performance in November 2023 will increase. This is reflected in the November Real Sales Index (IPR) of 209.4 or grew 2.9 percent (yoy).

Head of the BI Communications Department, Erwin Haryono, said that the increase in retail sales performance was driven by other Household Equipment Groups, Subgroups of Sandang, as well as Food, Beverage, and Tobacco Groups.

"monthly, retail sales are predicted to grow by 0.9 percent (mtm) driven by the increase in the Other Household Equipment Groups and the Parts of the Cadang and Accessories," he said in his official statement Monday, December 11.

Meanwhile, some groups continued to grow positively despite slowing down, including the Information and Communication Equipment Group as well as the Food, Beverage, and Tobacco Groups along with unfavorable weather.

In October 2023, IPR was recorded at 207.5 or an annual growth of 2.4 percent (yoy). The increase in retail sales performance was driven by other Household Equipment Groups as well as Food, Beverage, and Tobacco Groups which grew higher than the previous month.

On a monthly basis, retail sales increased by 3.2 percent (mtm), after contracting in the previous month. The increase in retail sales performance mainly occurred in the Information and Communication Equipment Group, Food, Beverage, and Tobacco Groups.

Furthermore, the Motor Vehicle Fuel Group was encouraged by domestic demand, preparation for the Christmas National Religious Holiday (HBKN), year-end holidays, and smooth distribution.

In terms of price, the General Price Expectation Index (IEH) in January and April 2024 were 133.1 and 137.8, respectively, higher than the previous month's IEH which was 131.2 and 133.0, respectively.

"Respondents informed that the increase in the price of the April 2024 IEH was driven by price increases in line with the period of HBKN Ramadan and Eid al-Fitr in 2024," he explained.