Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, rose 0.7% in September from August for the sixth consecutive month.
- Consensus among economists was a 0.3% increase.
- The July to August percent change was revised up to 0.8% from 0.6%.
- Excluding autos, retail sales rose by 0.6% over the month.
- Retail sales were 3.8% above September 2022, just above CPI data released earlier this month showing prices have increased 3.7% in the last year.
- Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
- Total sales for the July 2023 through September 2023 period were up 3.1% from the same period a year ago.
- The Right Facts will continue to monitor retail sales.