Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, rose 1.3% in October from September ahead of the holiday season while inflation slowed but prices remain high.
- Consensus among economists was a 1.0% gain.
- October’s 1.3% gain comes after no gains in September.
- Excluding autos, retail sales rose by 1.3% over the month.
- Retail sales are up 8.9% from a year prior while consumer prices advanced 7.7% from a year earlier.
- The Right Facts will continue to monitor retail sales.