Annual retail sales performance (year on year/yoy) is predicted to remain strong in August 2023. This is reflected in the August 2023 Real Sales Index (IPR) of 204.4, or positive growth of 1.3 percent (yoy). The continued strong retail sales performance was driven by an increase in the clothing subgroup. As well as repairs to motor vehicle fuel groups, other household equipment, other goods, as well as spare parts and accessories. On a monthly basis, retail sales are predicted to grow positively by 0.5 percent (mtm), better than the previous month which contracted by 8.8 percent (mtm).
This development was mainly driven by the food, beverage and tobacco group as well as increasing parts and accessories. As well as other household equipment which remains strong in line with the increase in demand due to the Indonesian independence event on August 17.
In July 2023, the IPR was recorded at 203.3 or positive annual growth of 1.6 percent (yoy). This development was supported by the food, beverage and tobacco groups, as well as the clothing subgroup which continued to grow positively.
On a monthly basis, retail sales in July experienced a growth contraction of 8.8 percent (mtm). This condition was mainly driven by the food, beverage and tobacco group which experienced contraction, as well as the motor vehicle fuel group which grew slowly
This condition is also in line with the normalization of community activities after the school holiday period and leave for the 2023 National Religious Holidays (HBKN).
In terms of prices, respondents predict that inflationary pressures will increase in October 2023 and January 2024.
The General Price Expectation Index (IEH) for October 2023 and January 2024 also rose, recorded at 118.7 and 134.0 respectively. This figure is higher than the previous period which was 115.9 and 130.0.
Based on data from the Central Statistics Agency (BPS), July 2023 Consumer Price Index (CPI) inflation was recorded at 0.21 percent (mtm), so that on an annual basis it became 3.08 percent (yoy), lower than the previous level which was recorded at 3. 52 percent (yoy).
