Another month of falling gas prices gave Americans' wallets a bit of a reprieve in August, sending consumers back to stores and leading to an unexpected 0.3% rise in retail sales
Another month of falling gas prices gave Americans’ wallets a bit of a reprieve in August. That sent consumers back to stores last month. The Census Bureau reported Thursday that a key measure of August US retail sales rose unexpectedly by 0.3% on a monthly basis, following a revised decrease of 0.4% in July. Retail sales, which are not adjusted for inflation, were up by 9.8% from a year ago. The continued decline in gas prices was reflected by a 4.
Backing out this volatile component, sales rose by 0.8% for the month. Persistently high food inflation showed up in a 0.2% increase in spending at grocery stores on a month-over-month basis. The strong reading, indicating a resilient consumer, is likely to give more ammunition to the Federal Reserve, which has been raising interest rates in a bid to tamp down the highest inflation in 40 years. Consumer prices in August rose by 8.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Dow drops over 600 points as stocks tumble after hotter-than-expected CPI readingU.S. stock-index futures gave up early gains to turn sharply lower Tuesday after an unexpected monthly rise in the August consumer-price index dashed hopes for a further slowdown in inflation.
Lire la suite »
Stock sell-off deepens, Dow drops 900 points after hot inflation dataStocks fall sharply after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.
Lire la suite »
As Gasoline Prices Drop, Electricity and Some Heating Costs RiseThe biggest 12-month rise in a U.S. electricity-cost index in at least 41 years, driven by higher natural-gas prices, is increasing consumers’ energy bills even as gasoline prices fall.
Lire la suite »
‘It masked the full perception': Falling gas prices may have given Americans a false sense of hope for August inflationA measure of “core” inflation, which strips out volatile food and energy prices, displayed a sharp 0.6% gain month-over-month. The yearly rate of inflation now stands at 8.3%, the Bureau of Labor Statistics said.
Lire la suite »
‘It masked the full perception.’ Falling gas prices may have skewed expectations for August inflation numbersGas prices fell 10.6% during August. Here’s why it’s not a relief from inflation.
Lire la suite »