Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, rose 0.2% in June from May.
- Consensus among economists was a 0.5% increase.
- The April to May percent change was revised up to 0.5% from 0.3%.
- Excluding autos, retail sales also rose by 0.2% over the month.
- Retail sales were 1.5% above June 2022 but CPI data released earlier this month show prices have increased 3.0% in the last year.
- Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
- Total sales for the April 2023 through June 2023 period were up 1.6% from the same period a year ago.
- The Right Facts will continue to monitor retail sales.