US Retail Sales Rise in August as Inflation Eases 

US retail sales continued to grow in August as consumer demand returned amid lower inflation and a softening in unemployment levels. 

Revenue rose 0.1% from the previous month to $710.8 billion — adjusted for seasonal variation — according to data the US Census Bureau released Tuesday. That figure builds on last month’s 1.1% hike to $710.4 billion as shoppers increased their purchasing in preparation for a return to school and work. 

“Retail sales increased again in August as consumer demand and easing inflation overcame slower job growth,” the National Retail Federation (NRF) explained. 

“Even with slower employment growth, unemployment is near historical lows, and ongoing job and wage gains coupled with lower inflation should keep consumers on solid footing heading into the holiday season,” said NRF CEO Matthew Shay.  

Sales climbed 2% from a year earlier, up from July’s 0.9% year-on-year increase, the NRF noted. Total sales improved 2.1% year on year in the first eight months. 

August sales grew year on year in five of the nine retail categories the NRF monitors, down slightly from the six categories that advanced in July. The clothing and accessories segment — which includes jewelry — increased 2.1% compared to July and rose 11% versus the same period a year ago. Online sales saw the largest year-on-year gain, going up 17%, while electronics and appliances, furniture, building and garden supply stores, and sporting goods, hobby, music and bookstores all fell. 

Image: People at a shopping mall. (Shutterstock)