Jakarta: According to the latest Retail Sales Survey conducted by Bank Indonesia (BI), in terms of prices, respondents anticipate a build-up of inflationary pressures in December 2022 and March 2023.
The 3 and 6-month Price Expectations Index (PEI) for December 2022 and March 2023 increased respectively to 146.0 and 140.7 from 135.4 and 138.7 the month earlier.
The increase was driven by higher raw material prices and seasonal demand during the Christmas festive period and holy fasting month of Ramadan.
"Respondents predict retail sales to remain solid in October 2022. This was confirmed by a 4.51% (yoy) growth in the Real Sales Index (RSI) to a level of 204.3," BI Communication Department Executive Director Erwin Haryono said in a media release on Wednesday.
"Retailers expect strong growth to stem from increasing sales of Food, Beverages and Tobacco as well as improving sales of Information and Communication Equipment. On a monthly basis, survey respondents forecast 3.1% (mtm) growth of retail sales, led by Clothing in response to discount programs offered by several retailers, accompanied by shallower contractions affecting Spare Parts and Accessories as well as Automotive Fuel," he explained.
In September 2022, the Retail Sales Survey indicated a solid 4.56% (yoy) RSI growth to a level of 198.1.
RSI growth in September 2022 was supported by improvements in the Food, Beverages and Tobacco category as well as Other Household Equipment, despite moderating growth of Automotive Fuels and Clothing.
On a monthly basis, retail sales contracted 1.8% (mtm) in September 2022, with broad-based declines reported across most commodity groups, particularly Spare Parts and Accessories as well as Clothing, on weaker demand.
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