Advance Retail SalesToday, the Commerce Department released Advance Retail Sales Data for October. Total sales for the August 2022 through October 2022 period were up 8.9 percent from the same period a year ago. Retail trade sales were up 1.2 percent from September 2022, and up 7.5 percent above last year. The key phrase in the report is “adjusted for seasonal variation and holiday and trading-day differences, but not for price changes.“For only the second time in the last eight months, Advance Retail Sales rose in real (inflation-adjusted terms). Real vs Nominal Retail SalesReal vs Nominal Retail Sales Detail Since 2020Factoring in inflation, using the CPI as the deflator, real retail sales peaked in March of 2021 and remain below a level reached in April of 2022.

Source: New York Times June 19, 2023 15:39 UTC