Indonesia's June retail sales grow 22.9% year-on-year: central bank survey

[JAKARTA] Indonesia's retail sales in June grew 22.9 per cent from the previous year boosted by demand for food, beverages and tobacco, a Bank Indonesia survey showed on Tuesday.

The retail sales growth in June was in line with increased consumption during the Muslim fasting month of Ramadan.

May retail sales growth was revised to 20.6 per cent from an initially reported 19.8 per cent rise, the survey showed.

The 700 retailers in 10 major cities surveyed said they expected sales growth to slow in September as demand returned to normal after the festivities.

The respondents expected price pressures to ease in the next three months helped by smooth goods distribution and stable prices from distributors.

However, price pressures in the six months will likely increase ahead of demands for Christmas and the New Year.

REUTERS