Retail sales were flat in September as inflation takes a toll on American households.
NEW YORK — The pace of sales at U.S. retailers was unchanged in September from August as rising prices for rent and food chipped away at money available for other things.
While the report showed the resilience of the American consumer, the figures are not adjusted for inflation unlike many other government reports. In fact, sales at grocery stores rose 0.4%, helped by rising prices in food. “Sales are continuing to grow, but it’s being largely driven by pricing, not by people buying more things,” said Ken Fenyo of Coresight Research, a global firm specializing in retail and technology. “For the consumer, it’s a pretty rocky situation.”
Consumer prices, excluding volatile food and energy costs, jumped 6.6% in September from a year ago — the fastest such pace in four decades. And on a month-to-month basis, core prices surged 0.6% for a second straight time, defying expectations for a slowdown and signaling that the Fed’s multiple rate hikes have yet to ease inflation pressures. Core prices typically provide a better picture of underlying price trends.
Walmart and Target are among others that are pushing deals earlier while others are offering new financing for customers.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Retail sales flat in Sept. as inflation takes toll on American householdsConsumer spending accounts a majority of U.S. economic activity and Americans have remained mostly resilient.
Weiterlesen »
Strong US September Retail Sales figure should support the dollar – INGFollowing Thursday's sharp sell-off, the US Dollar Index (DXY) stabilizes near the mid-112.00s. Economists at ING expect the US September Retail Sales
Weiterlesen »
Retail sales stagnant in September as high inflation eats into spendingThe Commerce Department released new retail data on Friday morning, revealing how consumers have responded to rapid and stubbornly high inflation in September.
Weiterlesen »
US: Retail Sales stay unchanged at $684 billion in SeptemberThe data published by the US Census Bureau showed on Friday that Retail Sales in the US, adjusted for seasonal variation, holiday and trading-day diff
Weiterlesen »
U.S. Retail Spending Was Flat in SeptemberU.S. shoppers’ retail spending was flat in September, as they faced high inflation and rising interest rates.
Weiterlesen »
US: Overall spending to continue to moderate as inflation persists and rates rise – Wells FargoData released on Friday showed retail sales remained unchanged in September compared to August. Stripping volatile retail segments suggests some modes
Weiterlesen »