No. 26/267/DKom
Respondents of the latest Retail Sales Survey conducted by Bank Indonesia expected retail sales performance to improve in November 2024. This was reflected by stronger 1.7% (yoy) growth of the Real Sales Index (RSI) to a level of 211.5 in November 2024. Retailers anticipate Automotive Fuel, Spare Parts and Accessories as well as Clothing to be the main drivers of retail sales growth in the reporting period. On a monthly basis, respondents forecast 0.4% (mtm) growth of retail sales in November 2024 after experiencing a 0.01% (mtm) contraction the month earlier, with Information and Communication Equipment, Other Household Equipment and Clothing cited as the main contributors.
Posting a level of 210.6, RSI growth moderated to 1.5% (yoy) in October 2024 from 4.8% (yoy) in September 2024. This was influenced by higher retail sales of several commodity groups, including Spare Parts and Accessories, Automotive Fuels and Clothing. On a monthly basis, retail sales in October 2024 experienced a shallower 0.01% (mtm) contraction, improving from a 2.5% (mtm) decline in September 2024. The improvement stemmed from higher sales of Other Household Equipment, Spare Parts and Accessories, Automotive Fuels as well as Food, Beverages and Tobacco, underpinned by seamless distribution.
In terms of prices, respondents predict a build-up of inflationary pressures in the next 3 months (January 2025) and milder price pressures in the next 6 months (April 2025). This was reflected by an increase in the Price Expectations Index (PEI) for January 2025 to 157.8 from 152.6 previously given the high rainfall forecast in January 2025. In contrast, the PEI for April 2025 decreased to 165.4 from 169.4 in response to the normalization of demand after Eid-ul-Fitr.
More information concerning the Retail Sales Survey is accessible via the official Bank Indonesia website.
Jakarta 10th December 2024
Communication Department
Ramdan Denny Prakoso
Executive Director
