(Census Bureau) The US posted total retail and food services sales of $677.7 billion in April, up 0.9% from the previous month.
The increase in retail sales was marginally lower than estimates of 1%, with rising inflation forcing consumers to spend more on retail stores. Compared to the prior year, retail sales are now 8.2% higher.
The core retail sales, which excludes gasoline, automobiles, food services, and building materials, increased 1.0% in the month.
The retail trade sales surged by 0.7% to remain 6.7% higher than last year. The sales reflected a 36.9% jump in sales at gasoline stations and a 19.8% jump in food services and drinking places sales.
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