March 9, 2017 / 8:55 AM / 5 months ago

Indonesia January retail sales grow 6.3 pct y/y

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JAKARTA, March 9 (Reuters) - Indonesia's retail sales in January grew 6.3 percent from a year earlier, a much slower pace than in December, a survey by Bank Indonesia (BI) showed on Thursday.

The central bank said decreased buying of food and non-food items weakened the growth rate in January.

The survey of 700 retailers in 10 major cities predicted that February annual retail sales growth would be at the same pace of 6.3 percent from a year earlier, maintained by sales of food items.

Respondents in the survey felt that price pressures were expected to increase in May.

They also predicted retail sales will be up in the next three months in line with increasing demand ahead of the Muslim fasting month. (Reporting by Nilufar Rizki; Editing by Sunil Nair)

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