BI Reveals Retail Sales Index Grows In October 2024

Executive Director of the Communication Department Ramdan Denny Prakoso. (Photo: Doc. ANTARA)

JAKARTA - Bank Indonesia (BI) reports that retail sales performance is predicted to continue to grow in October 2024.

This is reflected in the October 2024 Real Sales Index (IPR) which is predicted to reach 209.5 or grow by 1.0 percent (yoy).

Executive Director of the Communication Department, Ramdan Denny Prakoso, said that the retail sales performance was supported by an increase in sales of the Cultural and Recreational Goods Group, Parts of Cadang and Accessori, and Subgroups of Sandang.

On a monthly basis, retail sales improved even though they still experienced a contraction of 0.5 percent (mtm).

"The improvement was driven by an increase in sales of Subgroups of Sandang, Other Household Equipment Groups, and Parts of Cadang and Accessori supported by smooth distribution," he explained in his statement, Tuesday, November 12.

Ramdan said that the IPR will continue to grow in September 2024. Where, IPR was recorded at 210.6 or grew by 4.8 percent (yoy), although lower than August 2024 which grew 5.8 percent (yoy).

According to Ramdan, the growth was supported by an increase in sales of the Motor Vehicle Fuel Group and the Parts of Cadang and Accessori.

As for monthly, retail sales in September 2024 contracted 2.5 percent (mtm), lower than the previous month which grew 1.7 percent (mtm).

Meanwhile, based on its group, the decline mainly occurred in the Sandang Subgroup, Other Household Equipment Groups, as well as Food, Drinks, and Tobacco in line with the decline in public demand after the end of various discount programs in the context of the Republic of Indonesia's Birthday (Indonesian Independence Day).

In terms of price, Ramdan explained that inflationary pressures for the next 3 and 6 months, namely in December 2024 and March 2025, are predicted to increase.

This is reflected in the General Price Expectation Index (IEH) in December 2024 and March 2025, which were recorded at 152.6 and 169.4, respectively, higher than the previous period which was recorded at 134.3 and 155.9.

According to Ramdan, this increase is in line with the increase in demand during Christmas and New Year's Day (Nataru) in December 2024 and the month of Ramadan in March 2025.