- Retail sales, a measure of purchases at stores, restaurants and online, rose 0.3% in August from July as inflation remained near its highest level in more than 40 years.
- Consensus among economists was no change.
- August’s 0.3% gain comes after July was revised down from 0.0% to -0.4%.
- Excluding autos, retail sales fell by 0.3% over the month.
- Excluding autos and gasoline, retail sales rose 0.3% over the month.
- Retail sales are up 9.1% from a year prior while consumer prices advanced 8.3% from a year earlier.
- The Right Facts will continue to monitor retail sales.