Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, rose 0.6% in December from November due to an increase in spending for the holiday season.
- Excluding autos, retail sales rose by 0.4% over the month.
- Retail sales were 5.6% above November 2022, above CPI data released earlier this month showing prices have increased 3.4% in the last year.
- Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
- Total sales for the October 2023 through December 2023 period were up 3.9% from the same period a year ago.
- The Right Facts will continue to monitor retail sales.