BI Survey Reveals Retail Sales Declined in May 2020

    Wahyu Dwi Anggoro - 08 Juli 2020 14:55 WIB
    BI Survey Reveals Retail Sales Declined in May 2020
    Illustration ( Rizal)
    Jakarta: The latest Retail Sales Survey conducted by Bank Indonesia (BI) pointed to a deeper retail sales contraction in May 2020, as confirmed by a deeper 20.6 percent (yoy) contraction in the Real Sales Index (RSI) compared with 16.9 percent (yoy) contraction in April 2020. 

    "Retail sales declined on the back of contractions affecting all commodity groups," BI said in a release on Wednesday.

    According to the central bank, survey respondents attributed the deepest sales decline affecting Clothing, as well as Cultural and Recreational Goods.

    In addition, survey respondents also predicted a milder sales contraction in sales, with the RSI in June 2020 reaching -14.4 percent (yoy).

    "Milder compared with the previous months," BI stated.

    Lastly, The lastest survey also indicated that inflationary pressures in the future are likely to decrease, as reflected by a decrease in the 3-months Price Expectation Index (PEI) to 138.6 (August 2020) from 162.4 a month earlier, and a decrease in the 6-months Price Expectation Index (PEI) to 142.5 (November 2020) from 146.4 in the previous month. 


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