Retail Sales Expected to Continue with Slightly Restrained Growth: BI

Jakarta: Retail sales are expected to continue with slightly restrained growth in February 2022, as reflected by moderation of Real Sales Index (RSI) growth to 14.5% (yoy) from 15.2% (yoy) in January 2022, reaching a level of 202.8 in the reporting period, Bank Indonesia (BI) said on Thursday.
 
Slower retail sales growth affected spare parts and accessories as well as food, beverages and tobacco. 
 
On a monthly basis, respondents anticipated 3.2% (mtm) retail sales contraction, with broad declines expected across the majority of commodity groups, including cultural and recreational goods, spare parts and accessories as well as automotive fuels, in line with lower public demand, limited supply and inclement weather conditions.

In the previous period, the Retail Sales Survey revealed stronger annual retail sales, with the Real Sales Index (RSI) accelerating to 15.2% (yoy) from 13.8% (yoy) to reach a level of 209.6 in January 2022.
 
Retailers confirmed improving retail sales for most commodity groups, particularly automotive fuels, spare parts and accessories as well as clothing.
 
On a monthly basis, retail sales contracted by 3.1% (mtm) after expanding 7.6% (mtm) the month earlier as demand normalised following the Christmas and New Year festivity.  
 
Retail sales declined across most commodity groups, the deepest in clothing, food, beverages and tobacco as well as information and communication equipment.
 
"In terms of prices, retailers predict a build-up of inflationary pressures in April 2022 before dissipating in July 2022," BI Communication Department Head Erwin Haryono said in a press release.
 
The 3-month Price Expectations Index (PEI) for April 2022 is projected to increase to 139.1 from 129.2 on the back of seasonal demand during the holy fasting month of Ramadan.  
 
Meanwhile, the 6-month Price Expectations Index (PEI) for July 2022 is expected to moderate to 129.8 from 132.0 in line with the adequate supply and smooth distribution of goods and services.
 
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