Retail Sales Index Grows In November 2024

Rupiah (Photo: Antara)

JAKARTA - Bank Indonesia (BI) said that retail sales performance is predicted to increase in November 2024. This is reflected in the November 2024 Real Sales Index (IPR) which is predicted to reach 211.5 or grow 1.7 percent (yoy), higher than the previous month's growth.

Executive Director of the BI Communication Department, Ramdan Denny Prakoso, said that the retail sales development was mainly driven by an increase in sales of the Motor Vehicle Fuel Group, Parts of Cadang and Accessori, and Subgroups of Sandang.

As for monthly, retail sales are predicted to grow by 0.4 percent (mtm), after contracting 0.01 percent (mtm) in the previous month.

"The increase in retail sales was mainly driven by the Information and Communication Equipment Group, Other Household Equipment, and the Sandang Subgroup," he said in his statement, Tuesday, December 10.

Denny said that in October 2024 the IPR was recorded at 210.6 or grew 1.5 percent (yoy), or decreased compared to September 2024 which was 4.8 percent (yoy).

Denny explained that growth in October 2024 was mainly driven by increased sales of a number of groups such as the Parts of Cadang and Accessori, Motor Vehicle Fuel, and the Subgroup of Sandang.

On a monthly basis, retail sales in October 2024 contracted 0.01 percent (mtm), or better than the previous month which contracted 2.5 percent (mtm).

"This improvement was driven by the increasing sales of Other Household Equipment Groups, Parts of Cadang and Accessori, Motor Vehicle Fuel, as well as Food, Drinks, and Tobacco supported by smooth distribution," he explained.

Meanwhile, in terms of price, Denny said that the pressure of inflation for the next 3 months in January 2025 is predicted to increase, while inflation for the next 6 months in April 2025 is predicted to decline.

This is reflected in the January 2025 General Price Expectation Index (IEH) which was recorded at 157.8, higher than IEH in the previous period of 152.6 in line with high rainfall in January 2025.

Meanwhile, the April 2025 IEH was recorded at 165.4, lower than the previous period which was recorded at 169.4 in line with the normalization of post-Idulfitri demand.