BI Survey: Retail Sales Increased in April 2022; Here's What Drove It

Bank Indonesia (BI) survey shows that retail sales performance increased in April 2022. This is indicated by the Real Retail Sales Index (IPR) which grew by 16.5% month-to-month (m-to-m) to 239.2.

This growth was higher than the previous month's growth of 2.6% (m-to-m).

According to respondents, this growth was driven by increased public economic activity during Ramadan and ahead of Idul Fitri.

The increase occurred in several groups, namely the clothing sub-group grew by 37% (m-to-m), the food, beverage, and tobacco group grew by 19.4% (m-to-m), and information and communication equipment grew by 12.6% (m-to-m).

Annually, retail sales in April 2022 grew by 8.5% (year-on-year/yoy). This growth slowed from 9.3% (yoy) in March 2022.

The groups that recorded a slowdown were motor vehicle fuel by 39.6% (yoy), spare parts and accessories by 1.6% (yoy), and the food, beverage, and tobacco group by 12.9% (yoy).

BI also estimates that retail sales will continue to grow positively both monthly and annually in May 2022. The May IPR is estimated at 239.7, or up 0.2% month-on-month and 5.4% year-on-year.

(See Also: BI Survey: Retail Prices Predicted to Rise in May 2022)