February 8, 2017 / 9:13 AM / a year ago

Indonesia December retail sales grow 10.5 pct y/y

JAKARTA, Feb 8 (Reuters) - Indonesia’s retail sales in December grew 10.5 percent from a year earlier, a slightly stronger pace than in November, a survey by Bank Indonesia (BI) showed on Wednesday.

November annual retail sales growth was revised to 9.9 percent from the previously reported 10 percent.

The central bank said increased buying of food items bolstered the growth rate in December’s retail sales.

The survey of 700 retailers in 10 major cities predicted that January annual retail sales growth would be 9.5 percent from a year earlier, weakened by sales of food items.

Respondents in the survey felt that price pressures were expected to decrease in March, but increase in the next six months.

They also predicted retail sales will decrease in the next three months. However, they are optimistic that retail sales will increase in June this year tracking the rise in demand during the fasting month. (Reporting by Nilufar Rizki; Editing by Sherry Jacob-Phillips)

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