Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, rose by 0.9% in April for the fourth straight month, as inflation held close to its highest level in 40 years.
- Consensus among economists was a 0.7% increase.
- April’s 0.9% increase comes after March’s revised 1.4% increase.
- Excluding autos, retail sales rose by 0.6% over the month.
- Retail sales are up 8.2% from a year prior while consumer prices advanced 0.3% in April from March and 8.3% from a year earlier.
- The Right Facts will continue to monitor retail sales.