Jakarta: According to the latest Retail Sales Survey conducted by Bank Indonesia (BI), retailers are expecting monthly sales performance to improve in March 2022, as confirmed by 2.0% (mtm) growth in the Real Sales Index (RSI) to a level of 204.0 after contracting -4.5% (mtm) one month earlier.
Survey respondents confirmed broad sales gains across most commodity groups, led by clothing, spare parts and accessories, cultural and recreational goods as well as food, beverages and tobacco, stoked by growing public demand as community activity restrictions (PPKM) are relaxed, Covid-19 cases are falling and preparations begin for the holy fasting month of Ramadan.
Annually, respondents predict retail sales remain stronger from 12.9% (yoy) in February 2022 to 8.6% (yoy) in March 2022, driven by Motor Vehicle Fuel, as well as Food, Beverages and Tobacco.
"The Retail Sales Survey points to solid retail sales performance for the previous period," BI Communication Department Head Erwin Haryono said in a media release on Monday.
The RSI remained strong with annual retail sales growing by 12.9% (yoy) reaching a level of 200.0 in February 2022, although lower than the 15.2% (yoy) growth the month earlier.
Respondents confirmed strong retail sales growth for food, beverages and tobacco as well as automotive fuels.
On a monthly basis, retail sales fell -4.5% (mtm) from -3.1% (mtm) in the previous period, primarily in the spare parts and accessories, cultural and recreational goods as well as automotive fuels categories.
In terms of prices, retailers predict a build-up of inflationary pressures in May and August 2022.
The 3-month Price Expectations Index (PEI) is projected to reach 141.3 from 139.1 in line with historical price trends during the Eid al-Fitr national religious holiday (HBKN), while the 6-month PEI is expected to increase reaching 132.4 from 129.8.
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