BI Records September Retail Sales Keep Growing 4.7 Percent In September 2024

Bank Indonesia (Photo: Antara)

JAKARTA - Bank Indonesia (BI) estimates that retail sales performance will continue to grow in September 2024. This is reflected in the September 2024 Real Sales Index (IPR) which is predicted to reach 210.5 or grow by 4.7 percent (yoy).

Executive Director of the Communication Department, Ramdan Denny Prakoso, said that the retail sales performance was supported, among others, by the Motor Vehicle Fuel Group, Parts of Cadang and Accessori, and Subgroups of Sandang.

Meanwhile, monthly retail sales are predicted to contract by 2.5 percent (mtm), lower than the growth in the previous month which was recorded at 1.7 percent (mtm), along with the decline in public demand due to the end of the discount program implemented by retailers at the Republic of Indonesia's Anniversary (HUT RI) event.

"Some groups grew positively and restrained a deeper decline in retail sales performance, namely the Parts of Cadang and Accessori, Motor Vehicle Fuel, Other Household Equipment, and Information and Communication Equipment," he explained in his statement, Wednesday, October 9.

Ramdan said that in August 2024, IPR was recorded at 215.9 or grew by 5.8 percent (yoy), higher than the previous month which grew 4.5 percent (yoy) driven mainly by the Food, Beverage, and Tobacco Groups and Motor Vehicle Fuels.

Meanwhile, on a monthly basis, retail sales were recorded at 1.7 percent (mtm), an increase after experiencing a contraction of 7.2 percent (mtm) in the previous month.

Ramdan explained that the increase mainly occurred in food, beverage and tobacco groups, information and communication equipment, and other household appliances in line with the increasing demand during the RI Anniversary event, supported by the implementation of a retailer discount strategy.

Meanwhile, in terms of prices, Ramdan conveyed that the pressures of inflation for the next 3 months and 6 months, namely in November 2024 and February 2025, are predicted to decline.

According to Ramdan, this is reflected in the General Price Expectation Index (IEH) in November 2024 and February 2025, which were recorded at 134.3 and 155.9, respectively, lower than the previous period which was recorded at 141.3 and 166.7 supported by smooth distribution and availability of sufficient goods.