Retail Sales Contracted 3.1% in January 2022

Economics & Macro

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Vika Azkiya Dihni 10/03/2022 18:50 WIB

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Retail sales performance contracted month-on-month in January 2022. This is reflected in the real sales index for January 2022, which stood at 209.6, or a decrease of 3.1% from the previous month.

Indonesia Real Sales Index (IPR) (January 2021 - January 2022)

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Indonesia Real Sales Index (IPR) (January 2021 - January 2022)

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Bank Indonesia (BI) reported a month-on-month (m-to-m) contraction in retail sales in January 2022. The real sales index for January 2022 stood at 209.6, a 3.1% decrease from the previous month.

BI noted that this contraction aligns with the seasonal normalization of demand after the Christmas and New Year holidays. The decline occurred across most commodity groups.

Decreases were observed in the following sub-groups: clothing (-1.8%), food, beverages, and tobacco (-3.6%), and information and communication equipment (-4%).

Meanwhile, retail sales performance showed strong year-on-year (yoy) growth. Compared to January 2021, retail sales in January 2022 grew by 15.2% (yoy).

The highest increases were seen in motor vehicle fuel (55.6% yoy), spare parts and accessories (4.8% yoy), and the clothing sub-group (5.6% yoy).

By city, month-on-month declines in retail sales were observed in Manado (-32.3% m-to-m), Medan (-6.1% m-to-m), and Surabaya (-3.5% m-to-m).

Year-on-year, retail sales showed increases in Surabaya (36.6% yoy) and Medan (8.9% yoy). Semarang and Banjarmasin showed improved performance, although still contracting at -5.8% yoy and -11% yoy respectively.

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."