Key Points:
- Retail sales, a measure of purchases at stores, restaurants and online, rose 0.1% in August, far below July’s 1.1% increase.
- Excluding autos, retail sales rose by just 0.1% over the month.
- Retail sales were 2.1% above August 2023 but CPI data released earlier this month showed prices have increased 2.5% in the last year.
- Retail sales are not adjusted for inflation and reflect price differences as well as purchase amounts.
- Total sales for the June 2024 through August 2024 period were up 2.3% from the same period a year ago.
- The Right Facts will continue to monitor retail sales.