Retail Sales Outpace Modest Projections as Inflation Continues to Rise

Retail Sales Outpace Modest Projections as Inflation Continues to Rise

Retail Sales Outpace , Modest Projections, as Inflation Continues to Rise.

CNBC reports retail consumers of the United States pushed the proverbial gas on spending in October.

This spending continues as inflation has caused the price of goods to rise at their quickest rate in nearly 30 years.

Census Bureau advanced estimates say retail sales increased a total of 1.7% in October.

Some experts suggest this increase in spending was feuled by consumer concerns of even higher pricing in the near future.

Some experts suggest this increase in spending was feuled by consumer concerns of even higher pricing in the near future.

So much for soft consumer confidence signaling slower growth; what people do is much more important than what they say.

, Ian Shepherdson, chief economist Pantheon Macroeconomics, via CNBC.

Online marketplaces continue to thrive as the pandemic continues, posting gains of 4% in October.

Online marketplaces continue to thrive as the pandemic continues, posting gains of 4% in October.

Ever-increasing gas prices pushed sales at the pump up 4%.

Other sectors of the economy haven't been as lucky.

.

The hospitality industry remains hampered by decreasing sales and a lack of an adequate labor force.

The hospitality industry remains hampered by decreasing sales and a lack of an adequate labor force.

In the last year, overall sales in the United States are up a total of 16.3%