Retail sales saw 0.8% bump in September, but big chunk of spending went to paying for gas
Summary
Retail sales in the U.S. increased by 0.8% in September, mainly because people spent more on gasoline. When gas station sales are removed, overall retail sales rose just 0.2%, showing that higher prices, especially for gas, are influencing shopping habits.Key Facts
- Retail sales rose 0.8% in September, following a 1.3% gain in August.
- Gas station sales increased by 6.4% in September due to rising gas prices.
- Without gas sales, retail sales went up just 0.2%.
- Furniture stores sales rose 1.3%; electronics and appliance stores increased by 0.6%.
- Online retailers saw a small increase of 0.3%, while clothing store sales stayed flat.
- Restaurant sales, a service category, increased by 1.1%.
- Inflation in September was 3.7% higher than a year ago, driven in part by gas and other goods.
- Higher prices mean some shoppers use savings and look for deals to manage budgets.
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