BI's Real Sales Survey Warns of Potential Price Hike

To mitigate the potential slowdown, it's crucial for the government to bolster food reserves, particularly for staples like rice and beef.

Maria Elena

15 Mar 2024 - 15.52
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BI's Real Sales Survey Warns of Potential Price Hike

Ramadan tends to have a more pronounced effect on price hike. - Photo Bisnis.com

Bisnis, JAKARTA — Price hike is anticipated to reach its peak next month. Failure to address this issue promptly may exacerbate the decline in people's purchasing power and household consumption, consequently hampering economic growth.

This anticipation of price hike is evident in the February 2024 Retail Sales Survey conducted by Bank Indonesia (BI). According to the survey, the Price Expectation Index for the upcoming three months, calculated from January 2024, soared to 165.9.

The heightened Price Expectation Index signifies a concerning trend, and failing to address this surge could destabilize the national economy, especially with the upcoming Ramadan and Eid al-Fitr period, historically associated with increased demand and subsequently elevated prices of goods.

Additionally, the recent uptick in the highest retail price (HET) of premium rice is another factor deserving attention, as it may further strain purchasing power.

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Editor: Fatkhul Maskur
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BI's Real Sales Survey Warns of Potential Price Hike

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