JAKARTA – Inflation in April 2024 will soar compared to February and May 2024. Inflation in January 2024 is projected to be higher from inflation in February 2024.

Based on Retail Sales Survey of Bank Indonesia quoted Thursday (11/1), Price Expectation Index (PEI) in January 2024 is recorded at 133.1, but declining to 129.3 in February 2024. It rises again in April to 137.8, before declining in May to 132.4. Survey respondents saw declining PEI is related to national festivities, such as Eid al-Fitr.

Sales in February and May 2024 are also projected declining. Sales Expectation Index (SEI) are seen at 115.1 and 132.7, respectively. On the contrary, SEI peaks in January and April 2024 are recorded at 139.1 and 146.7. SEI slippage in May 2024 is related to normalisation of market demand post Eid al-Fitr. (LK/ZH)