Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, fell 0.8% in January from December after increased spending for the holiday season.
- The change for December was revised down from a 0.6% gain to 0.4%.
- Excluding autos, retail sales fell by 0.6% over the month.
- Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
- Total sales for the November 2023 through January 2024 period were up 3.1% from the same period a year ago, mirroring CPI data released earlier this month showing prices have increased 3.1% in the last year.
- The Right Facts will continue to monitor retail sales.