
Prices may be rising, but Americans shopped more than expected in January
CNN
Inflation is rampant in the pandemic economy, but that didn't keep Americans from opening up their wallets last month.
US retail sales rose by 3.8% in January from the month prior, adjusted for seasonal swings -- more than the 2% increase economists had predicted. That puts the sales total at $649.8 billion for the first month of 2022, the Census Bureau reported Wednesday.
It was also a reversal of the decline reported in December, when earlier than usual holiday shopping left little for the last month of the year. The December drop was revised even lower in Wednesday's report.
More Related News