Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, rose 0.6% in February from January, below consensus of 0.8%.
- Excluding autos, retail sales rose by 0.3% over the month, below expectations of 0.4%.
- Retail sales were 1.5% above February 2023 but CPI data released earlier this month showing prices have increased 3.2% in the last year.
- Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
- Total sales for the December 2023 through February 2024 period were up 2.1% from the same period a year ago.
- The Right Facts will continue to monitor retail sales.