Despite a seemingly positive uptick in retail sales, recent data unveils a troubling reality: inflation’s pervasive impact on essential goods like food and energy. While headline figures may suggest economic resilience, deeper analysis reveals concerning trends, with nondiscretionary goods experiencing significant month-over-month price increases. The disparity between sectors, with gas stations and groceries recording notable gains while discretionary items face declines, underscores the nuanced nature of current economic conditions. As inflation continues to erode purchasing power, questions arise about the true strength of the economy and the sustainability of consumer spending patterns amidst mounting cost pressures.
Breaking
Retail sales +.7% vs +.3% expectations
We are still spending like drunken sailors.
HIGHER FOR LONGER
— QE Infinity (@StealthQE4) April 15, 2024
Jan-Feb Retail Sales Revised 📈
– Revised: +0.9% (±0.2%) 📈
– Retail Trade Sales: +0.8% (±0.5%) from February 2024, +3.6% (±0.5%) from last year
– Food Services and Drinking Places: +6.5% (±2.1%) t.co/PEY5OwazZH
— The Coastal Journal (@1CoastalJournal) April 15, 2024