BI Reveals Retail Sales Performance April 2024 Increases

Bank Indonesia (Photo: Antara)

JAKARTA - Bank Indonesia (BI) noted that retail sales performance in April 2024 is predicted to continue growth, both on an annual basis and monthly basis. This is reflected in the April 2024 Real Sales Index (IPR) of 243.2, or a growth of 0.1 percent (yoy).

Assistant Governor of Bank Indonesia for Communication Erwin Haryono said the positive retail sales were driven by the growth of the Parts of Cadang and Accessori, Motor Vehicle Fuel, as well as Food, Drinks, and Tobacco.

"monthly, retail sales are predicted to grow positively by 3.3 percent (mtm) supported by the noted Food, Drink and Tobacco Information and Communication and Information Equipment Group, which continues to grow driven by community activities during Eid Al-Fitr National Religious Holidays (HBKN)," he said in his statement, Tuesday, May 14.

In March 2024 the IPR was recorded at 235.4 or grew by 9.3 percent (yoy). The increase in retail sales performance was driven by several groups, with the highest increase in the Subgroup of Sandang followed by the Parts of Cadang and Accessori, as well as Food, Drinks and Tobacco.

On a monthly basis, retail sales grew 9.9 percent (mtm) driven mainly by Subgroups of Sandang followed by Information and Communication Equipment, Parts of Cadang and Accessori, as well as Food, Drinks and Tobacco in line with the increase in community activities during Ramadan, preparation for the Idul Fitri HBKN, and discount programs.

In terms of price, inflationary pressures in June and September 2024 are predicted to decline, as reflected in the June and September 2024 General Price Expectation Indexes, which were recorded at 140.1 and 134.5, respectively, lower than the previous month's IEH which was 146.1 and 136.9, respectively.