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Indonesian annual retail sales edges up in February amid Lunar New Year celebrations
JAKARTA (Xinhua) – Retail sales in Indonesia accelerated at a faster pace in February year-over-year as demand for clothes, and cultural and recreational-linked goods seasonally drift higher during the Lunar Year celebrations, a survey carried out by the central bank said yesterday.
Indonesia logged 9.1 per cent growth of retail sales in February year-over year, significantly higher from 7.2 per cent in January.
The growth of sales is forecast to ratchet up eight per cent in March from a year ago for rising sales of clothing, vehicle spare parts and accessories.
In May, the price pressure is estimated to be maintained well, indicted by index of price expectation of 153.9, drifting lower from 154.3 in the previous month.
However, the significant hike on the retail sales growth in February did not generate annual core inflation, stripping off administered prices and volatile food prices in the month.
Data from the national statistics bureau stipulated that the core inflation was steady at 3.06 per cent in February year-over-year.
Bank Indonesia estimates inflation will accelerate at the range of 2.5 per cent to 4.5 per cent this year, equal with last year’s expectation.
Source: https://borneobulletin.com.bn/indonesian-annual-retail-sales-edges-up-in-february-amid-lunar-new-year-celebrations/