Michelle Natalia
On a monthly basis, retail sales improved to record a shallower 0.3% (mtm) contraction in the reporting period, dominated by Clothing, followed by Food, Beverages and Tobacco, as well as Cultural and Recreational Goods given increasing domestic sales in response to retail discount strategies, uninterrupted distribution, and increasing demand during the national religious holidays, along with mid-season sales as well as the recent school holidays.
In terms of prices, respondents anticipate milder inflationary pressures in September 2023 before escalating in December 2023 in line with sales expectations moving forward, as indicated by a decrease in the 3-month Price Expectations Index (PEI) to 115.9 from 117.7 and an increase in the 6-month PEI to 130.0 from 123.0. (WHY)
