US Retail Sales Stagnate as Inflation, Rates Hit Consumers
- Seven of 13 retail categories decreased in September
- Control-group sales increased a larger-than-forecast 0.4%
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US retail sales stalled last month as shoppers grew more guarded about discretionary purchases amid the worst inflationary environment in decades and rising interest rates.
The value of overall retail purchases were little changed in September after an upwardly revised 0.4% gain in August, Commerce Department data showed Friday. Excluding gasoline, retail sales were up 0.1%. The figures aren’t adjusted for inflation.