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BI projects prices of main commodities to increase in June
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Various kinds of rice are displayed at Pinasungkulan Market in Manado, North Sulawesi. (Antara/Adwit B Pramono)
B
ank Indonesia has projected the price of main commodities to increase after a BI survey estimated the three-month general price expectation index (GPEI) to increase to 174.6 in June from 153.9 in the previous month.
According to a statement issued by the central bank on Tuesday, respondents of the BI survey said the Ramadan and Idul Fitri holiday season, as well as the post-holiday period, was the reason behind the estimation.
Meanwhile, the six-month GPEI indicates that prices will decline in September, with the index showing a projected decrease to 155.5 from 162.8 in the previous month, kontan.co.id reported on Tuesday.
The central bank said retail sales in June were projected to decreased, with the three-month sales expectation index (SEI) expected to decline in June to 154.9 from 155.1 in the previous month.
Respondents project a decline in sales following the peak sale season ahead of Idul Fitri in early June, as the period was a transitional one, with parents enrolling their children in school.
Meanwhile, the six-month SEI is expected to decrease to 149.9 in September from 152.3 in the previous month. (bbn)
