RETAIL SALES ROSE 0.3% IN AUGUST

Key Points:

  • 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.