Jakarta: The most recent Retail Sales Survey performed by Bank Indonesia (BI) pointed to an uptick of retail sales in July 2019.
The Real Sales Index (RSI) grew 2.4 percent (yoy) in the reporting period, increased from the previous month as recorded grew by -1.8 percent (yoy).
"Strong sales performance was primarily driven by Spare Parts and Accessories as well as Food, Beverages and Tobacco," the Central Bank said in a press statement released on Tuesday, September 10, 2019.
Furthermore, retailers predicted solid sales growth in August 2019. As indicated by Real Sales Index (RSI) growth in August 2019 of 3.7% (yoy), driven by Spare Parts and Accessories, followed by Food, Beverages and Tobacco as well as Information and Communications Equipment, which were boosted by Independence Day retail discounts and promotions.
The Retail Sales Survey also showed how respondents expected milder price pressures at the retail level in the next 6 months (Januari 2020), as reflected by a 6-month Price Expectations Index (PEI) of 161.1, falling from 162.5 the month earlier.