Jakarta: The latest Retail Sales Survey conducted by Bank Indonesia (BI) pointed to further retail sales improvements in September 2020, with the Real Sales Index (RSI) improving to -8.7 percent (yoy) from -9.2 percent (yoy) in August 2020.
"Gains were observed across most commodity groups in the survey, including Food, Beverages and Tobacco that have recorded positive growth for the past two consecutive months, along with stronger performance in the Clothing subsector as well as Automotive Fuels," said BI on Department Onny Widjanarko in a media release on Wednesday.
Sales improvement predicted to be restrained in October 2020 to -10.0 percent (yoy) , held back by Food, Beverages and Tobacco as well as Cultural and Recreational Goods.
On the other hand, respondents expected stronger sales performance affecting Household Equipment and Automotive Fuels. On a monthly basis, retailers predicted 0.1 percent (mtm) sales growth for October 2020, boosted by a national festive period towards the end of the month.
In terms of prices, respondents predicted a build-up of inflationary pressures in the next three months (December 2020) before dissipating in the next six months (March 2021).
Retailers expected inflationary pressures to accumulate in December 2020 in line with the Christmas and New Year festive period, as confirmed by an increase in the 3-month Price Expectations Index (PEI) to 142.5 from 132.5 one month earlier.
In contrast, the 6-month PEI decreased to 160.0 from 166.9 in the previous period in line with the smooth supply and distribution of goods.