No. 27/30/DKom 

Respondents of the latest Retail Sales Survey conducted by Bank Indonesia expect retail sales to maintain growth in January 2025. This was reflected by a Real Sales Index (RSI) of 211.3, with annual growth of 0.4% (yoy). Retail sales performance in January 2025 was primarily supported by growth of Cultural and Recreational Goods as well as Information and Communication Equipment, which increased from the previous month. Meanwhile, Spare Parts and Accessories, Automotive Fuel as well as Food, Beverages and Tobacco maintained growth despite moderating from the previous period. On a monthly basis, respondents anticipate a 4.8% (yoy) retail sales contraction in January 2025 after expanding 5.9% (mtm) in December 2024, with all commodity groups experiencing a contraction, except Cultural and Recreational Goods, due to the normalization of private demand after the Christmas and New Year festive period.

At a level of 222.0, RSI growth accelerated to 1.8% (yoy) in December 2024 from 0.9% (yoy) in November 2024. Growth in December 2024 was primarily driven by Spare Parts and Accessories as well as Cultural and Recreational Goods. On a monthly basis, retailers reported 5.9% (mtm) sales growth in December 2024, improving from a 0.4% (mtm) contraction in the previous period. All commodity groups were recorded in an expansionary phase, led by Information and Communication Equipment with the highest growth, followed by Spare Parts and Accessories as well as Cultural and Recreational Goods. Stronger retail sales performance in the reporting period stemmed from increasing private demand during the Christmas and New Year festive period.

In terms of prices, respondents predict a build-up of inflationary pressures in the next 3 and 6 months, namely in March and June 2025. This was reflected by respective increases in the Price Expectations Index (PEI) for March and June 2025 to 179.0 and 152.3 from 160.2 and 151.1. The PEI in March 2025 will be edged upwards by higher prices during the holy fasting month of Ramadan and Eid-ul-Fitr, while the higher PEI in June 2025 will stem from Eid-ul-Adha and the start of the new academic year.

More information concerning the Retail Sales Survey​ is accessible via the official Bank Indonesia website.

Jakarta, 12 FebruarY 2025

Communication Department

Ramdan Denny Prakoso

Executive Director