(Click on image to enlarge)
According to the , retail sales rose 0.4 percent in September.
Advance estimates of U.S. retail and food services sales for September 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $714.4 billion, an increase of 0.4 percent (±0.5 percent) from the previous month, and up 1.7 percent (±0.5 percent) from September 2023. Total sales for the July 2024 through September 2024 period were up 2.3 percent (±0.5 percent) from the same period a year ago.
The key line above is “adjusted for seasonal variation and holiday and trading-day differences, but not for price changes.”Those are nominal numbers, not adjusted for inflation. My charts below show both.Month-Over-Month Nominal Details
Real vs Nominal Retail Sales Percent Change From Month Ago(Click on image to enlarge)
Real vs Nominal Advance Retail Sales in Millions of Dollars(Click on image to enlarge)
Real Retail Sales Detail – Millions of Dollars(Click on image to enlarge)
As you can see, inflation-adjusted retail sales have gone nowhere.The Cost of Food Increased 0.4 Percent in SeptOn October 10, I noted Food Away from Home vs Food at Home Month-Over-Month
Also see The vaunted US consumer is little more than a mirage of inflation. The basket of consumer spending shifts according to prices.More By This Author:For The 2nd Month, Export Prices Decline Much More Than Import Prices What Would Trump’s Mass Deportation of Immigrants Cost?Continued Plus Long-Term Unemployment Claims Suggest Recession Right Now
