ONLN - Consumers Bought Lots Of Stuff At Retailers But At Prices That Fell From The Pandemic Spike
2024-06-19 04:55:00 ET
Summary
- There are two crucial things that go into retail sales: Seasonal adjustments and inflation/deflation in goods, which is what retailers sell.
- Inflation in the US has been raging in services, where two-thirds of consumer spending goes.
- Nondurable goods prices dropped in May from April by 0.4%, driven by a drop in gasoline prices, a drop in apparel prices, and flat prices at grocery stores.
Inflation-adjusted consumer spending & GDP will reflect that strength.
There are two crucial things that go into retail sales: Seasonal adjustments and inflation/ deflation in goods, which is what retailers sell....
Consumers Bought Lots Of Stuff At Retailers, But At Prices That Fell From The Pandemic Spike