Saturday, 22 February 2020

Bank Indonesia: July`s Retail Sales Decline

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  • People walk past the teller counter inside Indonesia's central bank Bank Indonesia in Jakarta, September 22, 2016.REUTERS/Iqro Rinaldi

    People walk past the teller counter inside Indonesia's central bank Bank Indonesia in Jakarta, September 22, 2016.REUTERS/Iqro Rinaldi

    TEMPO.CO, Jakarta - A survey conducted by Bank Indonesia (BI) shows that retail sales in July declined as the public consumption returned to normal after Ramadan and Eid al Fitri.

    The fact is reflected by the real sales index (IPR) that stood at 209.9 in July 2017, declining by 3.3 percent year-on-year. “The declining retail sales occurred in the food and non-food groups,” the central bank (BI) reported yesterday, Sept. 11.

    On the regional basis, the decline in IPR occurred in several cities, such as Semarang, Denpasar, and Manado.

    In August, the retail sales figure increased by 5.3 percent when compared to the previous month. The increase occurred in the food group at 10.4 percent after declining by 0.3 percent in the previous month. The retail sales growth for the non-food group also improved from -7.8 percent to -1.9 percent year-on-year.

    The survey also indicates price hikes at the retailer level in the next three months. Bank Indonesia said that the indication is supported by the general price expectation index (IEH) that increased to 135.5 from 133.3 in the previous month.

    BISNIS