Bank Indonesia published its latest Retail Sales Survey, showing respondents expect retail sales performance to improve in December 2024. The Real Sales Index (RSI) is projected to grow 1.0% year on year to 220.3, with retailers pointing to Spare Parts and Accessories and Food, Beverages, and Tobacco as key drivers. On a month-on-month basis, respondents forecast 5.1% growth in December 2024 following a 0.4% contraction in November, with the strongest gains expected in Clothing, followed by Food, Beverages, and Tobacco and Spare Parts and Accessories, supported by higher demand ahead of the Christmas and New Year period. For November 2024, RSI growth moderated to 0.9% year on year (209.7) from 1.5% in October; sales fell 0.4% month on month, with weakness across most commodity groups, while Information and Communication Equipment and Automotive Fuel remained supportive. On prices, respondents see inflationary pressures building over the next three months and easing over the next six months. The Price Expectations Index (PEI) for February 2025 rose to 160.2 from 157.8, while the PEI for May 2025 fell to 151.1 from 165.4.
Bank of Indonesia 2025-01-10
Bank Indonesia reports retailers expect December 2024 sales to rise and flags higher near-term price expectations
Bank Indonesia's Retail Sales Survey anticipates improved retail sales for December 2024, with the Real Sales Index growing 1.0% year on year to 220.3. Key drivers include Spare Parts and Accessories and Food, Beverages, and Tobacco, with a forecasted 5.1% month-on-month growth after a 0.4% contraction in November. Inflationary pressures are expected to build over the next three months, with the Price Expectations Index for February 2025 rising to 160.2.