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Retail Sales Index Rises in April 2023, Highest Since Pandemic

Adi Ahdiat 10/05/2023 16:10 WIB

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BI estimates that the national retail sales index reached 241.6 in April 2023, the highest since the start of the pandemic.

Indonesia's Real Sales Index (RSI) (January 2019-April 2023)

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Retail Sales Index Rises in April 2023, Highest Since Pandemic

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Indonesia's Real Sales Index (RSI) (January 2019-April 2023)

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Bank Indonesia (BI) estimates that the national Real Sales Index (RSI) reached 242.9 in April 2023, the highest level since the beginning of the Covid-19 pandemic.

The RSI is an indicator of household consumption monitored through retail sales.

When the RSI rises, real sales by retailers are assumed to increase, also indicating an increase in consumer spending.

Conversely, if the RSI falls, retail sales and consumer spending are considered to have decreased.

BI compiles the RSI based on a survey of approximately 700 respondents from retailers in modern markets (supermarkets and hypermarkets) and traditional markets.

The respondents are spread across 9 cities, namely DKI Jakarta, Bandung, Semarang, Surabaya, Denpasar, Banjarmasin, Makassar, Manado, and Medan.

The survey collected quantitative and qualitative data, including the nominal sales value from the traders, and their opinions on price developments.

As a result, BI estimates that the RSI in April 2023 grew by 1% compared to April 2022 (year-on-year/yoy), and reached its highest level since the beginning of 2020, as shown in the graph above.

According to BI, the increase in retail sales in April 2023 was influenced by the Ramadan and Eid al-Fitr 1444 Hijriah period, price reduction strategies from retailers, and smooth domestic goods distribution.

"The increase in retail sales occurred in the majority of commodity groups, especially information and communication equipment, clothing sub-groups, and food, beverage, and tobacco groups," BI said in its Retail Sales Survey report released on Wednesday (10/5/2023).

BI also found that the majority of surveyed retailers expect inflation to fall in June and September 2023.

"The price decrease is in line with the availability of goods to meet demand," said BI.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Retail Sales Index Rises in April 2023, Highest Since Pandemic

Retail Sales Index Rises in April 2023, Highest Since Pandemic

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Retail Sales Index Rises in April 2023, Highest Since Pandemic

Retail Sales Index Rises in April 2023, Highest Since Pandemic

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