US retail sales falls, shoppers battle inflation
As inflation remained elevated, retail sales in the United States continued to decline in December, falling 1.1%, as reported by the Commerce Department on Wednesday.
CNN reports that this is the largest monthly decline since December 2021, and virtually every category (with the exception of building materials, groceries, and sporting goods) experienced a decline in sales from the previous month.Information Guide Nigeria
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According to Refinitiv, economists had anticipated a 0.8% decline in sales for the month. The November figure was revised downward to -1%.JAMB Result
October was the last strong month for retail sales in 2022, according to economic analyst Kayla Bruun of Morning Consult. Discounting and decelerating inflation encouraged consumers to shop more in October.
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