Bank Indonesia Survey: Clothing And Fuel Oil Drive Retail Sales Increase In July 2022

Illustration. (Photo: Doc. Antara)

JAKARTA - Bank Indonesia estimates that retail sales performance will continue to increase in July 2022. This is reflected in the July 2022 Real Sales Index (IPR) estimate of 204.9, or an increase of 8.7 percent (yoy).

According to the Head of the Communications Department of Bank Indonesia, Erwin Haryono, this forecast is mainly supported by the increase in sales of the Clothing sub-group, the Automotive Fuel category, and Spare Parts and Accessories.

"On a monthly basis, retail sales are predicted to improve to -0.8 percent (mtm), driven by increased sales in the Motor Vehicle Fuel category and the Cultural and Recreational Goods group," Erwin said in a statement, Tuesday, August 9.

In the period of June 2022, the results of the Retail Sales Survey (SPE) indicated that retail sales performance grew on an annual basis. The Real Sales Index (IPR) in June 2022 was recorded at 206.6, or grew 4.1 percent (yoy), an increase from the previous month's growth of 2.9 percent (yoy).

The increase was driven by an increase in sales, including in the Spare Parts and Accessories Group, as well as Food, Beverages and Tobacco. "On a monthly basis, retail sales fell -11.8 percent (mtm) in June 2022, especially in the Cultural and Recreational Goods Group, Information and Communication Equipment and Food, Beverages and Tobacco," Erwin added.

In terms of prices, respondents predict that inflationary pressures in September and December 2022 (3 and 6 months to come) will increase. The General Price Expectation Index (IEH) for September and December was recorded at 137.5 and 138.5, respectively, an increase compared to 127.5 and 132.1 in the previous month.

"Respondents also predict an increase in sales in September and December 2022 (3 and 6 months to come)," said Erwin.