RETAIL SALES RISE IN APRIL DESPITE RECORD INFLATION

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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.
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