Total US retail sales were up 1.3 percent from September 2021 and 8.3 percent from last October.
The report comes as inflation begins to show signs of cooling. Consumer prices rose by 7.7 percent in October compared to last year, according to a Thursday
from the U.S. Bureau of Labor Statistics. This marked a slowdown from September’s 8.2 percent year-over-year growth. Compared to September 2022, prices in October were up 0.4 percent., NRF is predicting sales to grow, though at a slower rate than last year. Total sales between Nov. 1 and Dec. 31 are expected to grow between six percent and eight percent compared to 2021, representing a total of between $942.6 billion and $960.4 billion in sales, on top of last year’s record-breaking 13.
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