Jakarta: The latest Retail Sales Survey conducted by Bank Indonesia (BI) indicated further retail sales gains in January 2022, as reflected by 16.0% (yoy) annual growth in the Real Sales Index (RSI) to a level of 211.0, driven by broad-based improvements across all commodity groups, led by automotive fuels and clothing.
On a monthly basis, retailers expected sales to contract 2.4% (mtm) in January 2022, primarily held back by clothing, food, beverages and tobacco as well as information and communication equipment, as seasonal demand normalises after the Christmas and New Year festive period national religious holidays (HBKN).
Previously in December 2021, the Retail Sales Survey pointed to stronger monthly and annual retail sales performance, as reflected by an index reading of 216.3 in December 2021 as growth accelerated from 2.8% (mtm) to 7.6% (mtm).
RSI growth in December 2021 was supported by most commodity groups, particularly clothing as well as food, beverages and tobacco, driven by a spike in seasonal demand during the Christmas and New Year festive period national religious holidays.
Annually, retail sales in December 2021 accelerated to 13.8% (yoy) from 10.8% (yoy) in November 2021, mainly driven by food, beverages and tobacco as well as automotive fuels.
"In terms of prices, retailers predicted milder inflationary pressures in March and June 2022 in response to price corrections caused by adequate supply of goods and services, coupled with the smooth and orderly distribution of goods," BI Communication Department Head Erwin Haryono said in a press release on Monday.
Accordingly, the Price Expectations Index (PEI) for March and June 2022 decreased respectively to 129.2 and 132.0 from 129.7 and 140.0 the month earlier.
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