Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, were unchanged in June, below consensus of a 0.2% increase.
- May was revised up from 0.1% to 0.3%.
- Excluding autos, retail sales rose by 0.4% over the month.
- Retail sales were 2.3% above June 2023 but CPI data released earlier this month showed prices have increased 3.0% in the last year.
- Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
- Total sales for the April 2024 through June 2024 period were up 2.5% from the same period a year ago.
- The Right Facts will continue to monitor retail sales.