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Retail Sales Flatten Out in September as Inflation Takes Toll

Submitted by jhartgen@abi.org on

Retail sales were flat in September, according to data released Friday by the Census Bureau, a potential sign of American consumers buckling under high inflation, The Hill reported. Retailers and restaurants made $684 billion in sales last month after seasonal adjustments, unchanged from August’s retail sales total. Sales rose 0.4 percent in August before flattening out last month, according to the Census Bureau. Retail sales figures are not adjusted for inflation, which means the data tracks the total level of spending on retail goods and services, but not the amounts of goods and services purchased. The September slowdown in retail sales came as prices rose 0.4 percent on the whole last month and 8.2 percent over the past year, according to Labor Department data released Thursday.

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