JAKARTA (TheInsiderStories) – Bank Indonesia (BI) reported the Consumer Survey Index for February 2021 stood at 85.8, a slightly increased from 84.9 in the previous month, the central bank announced on Tuesday (03/09). In the same month, the Retail Sales Survey is projected still contracted at 0.7 percent from January minus 4.3 percent.
The policymakers announced, the consumer confidence is observed to strengthen among respondents with expenditure levels of Rp1 – Rp3 million (US$208.33) per month. The data showed, the improving consumer confidence in February was driven by perceptions of current economic conditions, both in terms of job availability, income, and timeliness of purchasing durable goods.
While, the consumer expectations of future economic conditions remained positive and relatively stable compared to expectations in the previous month, supported by expectations of future incomes. The information and communication equipment group and the spare parts and accessories group are predicted to chart positive growth, bolstering retail sales performance.
On an annual basis, retail sales performance is predicted to be relatively stable with real sales index contracted 16.5 percent in February, compared to a year ago minus 16.4 percent, said BI. The retail sales of commodities such as clothing, cultural, recreational goods, spare parts and accessories, and communication equipment are showing signs of improvement, although still contracting.
In January, the retail sales performance declined in line with the post-Christmas and New Year celebrations, amid the enactment of micro-community activities restriction and unfavorable weather. The decline occurred in all commodity groups, with the deepest decreases in the fuel for motor vehicles, other household appliances, and the clothing sub-group.
In terms of prices, inflationary pressure in the next three months until April will increase, while in the next six months to July it will decrease. The coming three months general price expectation index was 156.9, an increase from 149.7 in the previous month. This increase is in line with entering the month of Ramadan and preparation for Eid Al-Fitr.
For the next six months the general price index amounted to 153.5, down from the previous month of 164.8, supported by smooth distribution and adequate supply.
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