Jakarta: The latest Retail Sales Survey performed by Bank Indonesia (BI) revealed how retailers are predicting stronger sales performance in October 2021, as confirmed by a positive Real Sales Index (RSI) of 1.8% (mtm), after contracting -1.5% (mtm) in September 2021.
"The main drivers of improving retail sales are Other Household Equipment, Spare Parts and Accessories as well as Food, Beverages and Tobacco," said BI Communication Department Head Erwin Haryono in a press release on Tuesday.
Survey respondents stated that retail sales are improving in line with early signs of growing private demand after the government relaxed mobility restrictions, supported by orderly and seamless distribution.
Annually, retailers predicted 5.2% (yoy) sales growth, driven by Food, Beverages and Tobacco as well as Automotive Fuel.
The Retail Sales Survey pointed to declining retail sales in the previous period (September 2021), primarily held back by compressed demand for Spare Parts and Accessories, Other Household Equipment as well as Food, Beverages and Tobacco.
In contrast, retail sales of Automotive Fuels increased as the government relaxed mobility restrictions in several regions.
Annually, retail sales experienced a 2.2% (yoy) contraction in September 2021, relatively unchanged compared with 2.1% (yoy) contraction one month earlier.
In terms of prices, retailers predicted a build-up of inflationary pressures in December 2021 before subsiding in March 2022, citing a seasonal spike in demand during the national religious holidays (HBKN) along with higher prices of raw materials.
The Price Expectations Index (PEI) for December 2021 increased to 128.4 from 124.8 in November 2021 yet decreased to 128.3 in March 2022 from 138.7 in February 2022, supported by adequate supply and uninterrupted distribution.
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