- However American consumers may feel, retail sales continue to climb. The Census Bureau’s latest data show solid gains outside of the virtual shopping malls, too.
- Headline sales (seasonally adjusted) rose much more than expected in April 2022, increasing 0.9% from March’s upward revised estimate.
- Consumers are paying a lot more and getting a little less than last year; furthermore, this has come at the expense of spending on services which you don’t see in retail sales.
- The question now is, how long - if at all - before this begins to impact nominal spending on goods, too.
For further details see:
Shipping Around Retail 'Inflation'