Thursday, December 7, 2023

Central Bank Predicts Positive Growth in Retail Sales

Indah Handayani
June 13, 2023 | 1:36 pm
This undated photo shows a man walking by a Bank Indonesia sign. (Antara Photo)
This undated photo shows a man walking by a Bank Indonesia sign. (Antara Photo)

Jakarta. Bank Indonesia said Tuesday that retail sales grew in May as reflected in the Real Sales Index (RSI) which stood at 234.2, up slightly by 0.02 percent year-on-year.

Bank Indonesia spokesman Erwin Haryono said the positive performance of retail sales was driven by the food, beverage, and tobacco group, as well as the apparel subgroup, which is expected to maintain positive growth.

"On a monthly basis, retail sales are forecasted to contract by 3.6 percent," Erwin said.

The decline in sales performance occurred in all groups, particularly in the apparel subgroup, food, beverage, and tobacco group, and the information and communication equipment in line with the "normalization" of consumer spending after the Ramadan holidays.


In April 2023, the RSI recorded a value of 242.9, indicating a year-on-year growth of 1.5 percent. Positive growth in retail sales was observed in several groups, particularly in the culture and recreation group and the apparel subgroup. On a monthly basis, retail sales grew by 12.8 percent. 

Regarding prices, respondents anticipate a decrease in inflationary pressures in July. The General Price Expectations Index (GPEI) for July is 118.5, lower than the previous month's 124.5. 

"The maintained price pressure is supported by the availability of supplies and smooth distribution of goods," Erwin said.

Tags: Keywords:


News 3 hours ago

Father Allegedly Murders His Four Children in South Jakarta

The mother of the victims had been hospitalized since Saturday due to injuries sustained from an attack by her husband.
Special Updates 5 hours ago

BNI Life Vows to Make Continuous Innovations

BNI Life’s assets stood at Rp 24.33 trillion, up by 5 percent year-on-year.
Business 5 hours ago

Hong Kong Investors Show Strong Appetite for Indonesia

Hong Kong businesses ranging from energy sector to toy manufacturing are eyeing Indonesia expansion.
News 7 hours ago

Putin Visits Saudi Arabia and UAE as Ukraine War Grinds on

Soldiers on horseback and with camels lined his arrival route, Russian and Emirati flags also hanging from light poles.
Tech 9 hours ago

Trade Minister Greenlights TikTok's Collaboration with GoTo for E-commerce Venture

Trade Minister Zulkifli Hasan has given the green light for collaboration between ByteDance Ltd and GOTO to establish an e-commerce platform

Popular Tag

Opini Title