Bank Indonesia Reports Real Sales Index Growth of 5.7% in January 2026

Bank Indonesia (BI) has revealed that the Real Sales Index (IPR) in January 2026 grew 5.7% year-on-year. Retail sales growth was supported by increased sales in the Cultural and Recreational Goods, Food, Beverages and Tobacco groups, as well as the Clothing subgroup.

However, on a month-on-month basis, retail sales in January 2026 contracted by 2.7% in line with the normalisation of consumer spending following the Christmas and New Year holiday periods.

“The cultural and recreational goods group was one of the segments that recorded growth of 3.0% month-on-month, whilst other groups were recorded in contraction zones,” said Ramdan Deni, Head of the Communications Department at Bank Indonesia, on Tuesday (10 March 2026).

The information and communications equipment group, spare parts and accessories, food, beverages and tobacco, and the clothing subgroup each experienced contractions of 7.7%, 3.8%, 2.5% and 3% respectively.

Bank Indonesia expects the Real Sales Index for February 2026 to grow 6.9% year-on-year. This retail sales performance is being driven by increased sales across the majority of segments, particularly in the Spare Parts and Accessories group, Other Household Equipment, and the Clothing subgroup.

“On a month-on-month basis, retail sales in February 2026 are expected to increase by 4.4%,” he said.

This increase is being driven by consumer demand during Ramadan and preparations for the national religious holiday Idulfitri 1447 Hijri.

Regarding price pressures, inflation expectations for the next three months—April 2026—are forecast to decline, whilst for the next six months—July 2026—are expected to increase.

This is reflected in the General Price Expectation Index (IEH) for April 2026 at 153.9, lower than the IEH for March 2026 at 175.7, in line with normalisation of prices following the Idulfitri 1447 Hijri holiday. Meanwhile, the IEH for July 2026 is forecast at 157.1, higher than the IEH for June 2026 at 156.3, driven by price increases during the new school year.