Indonesia January retail sales grow 10.4% year-on-year: central bank

[JAKARTA] Indonesia's annual retail sales in January grew at a much faster pace of 10.4 per cent bolstered by information and communication equipment as well as food, beverages and tobacco, a Bank Indonesia survey showed on Tuesday.

January's retail sales were faster than December's 3.3 per cent growth, which was revised from an initial 4.3 per cent.

The 650 retailers in 10 major cities surveyed said they expected annual retail sales growth in February would continue to accelerate.

The survey also showed that price pressures in the next three months would ease on the smoother distribution and supply of goods.

The respondents expected sales demand would increase in the next three months due to an improvement in purchasing power.

REUTERS