Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, rose just 0.1% in May, below consensus of 0.2%.
- March was revised down from 0.0% to -0.2%.
- Excluding autos, retail sales fell by 0.1% over the month, the same reading as the April revisions.
- Retail sales were 2.3% above May 2023 but CPI data released earlier this month showed prices have increased 3.3% in the last year.
- Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
- Total sales for the March 2024 through May 2024 period were up 2.9 percent (±0.5 percent) from the same period a year ago.
- The Right Facts will continue to monitor retail sales.