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Economy

“Retail sales surge 3.8% in January, much more than expected amid inflation rise”

“…Retail sales for the month rose 3.8%, much better than the 2.1% Dow Jones estimate.

The numbers are not adjusted for inflation; the 0.6% rise in the consumer price index for the month helped push a reversal from the 2.5% sales decline in December, which was revised lower from the initially reported 1.9% drop. CPI was up 7.5% on a year-over-year basis in January.

Excluding auto sales, the retail gain was 3.3%, after falling 2.8% in the previous month.

Online shopping contributed the most on a percentage basis, with nonstore retailers seeing a gain of 14.5%. Furniture and home furnishing sales increased 7.2%, while motor vehicle and parts dealers saw a 5.7% rise…”

https://www.cnbc.com/2022/02/16/retail-sales-january-2022.html

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