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US Retail Sales increased 0.4%

Wednesday, Feb 15 2017
US Retail Sales increased 0.4%

The Commerce Department said retail sales increased 0.4 percent last month, buoyed by purchases of electronics and appliances. Households also spent more on dining out, sporting goods and hobbies. December's sales were revised up to show a 1.0 percent rise instead of the previously reported 0.6 percent advance. Sales rose despite motor vehicle purchases posting their biggest drop in 10 months. Compared to January last year retail sales were up 5.6 percent. Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.4 percent after a similar gain in December.

In a separate report, the Labor Department said its Consumer Price Index jumped 0.6 percent last month as households paid more for gasoline, new motor vehicles, airline fares and clothing. It was the largest increase since February 2013 and followed a 0.3 percent gain in December.In the 12 months through January, the CPI increased 2.5 percent, the biggest year-on-year gain since March 2012. The CPI rose 2.1 percent in the year to December. Inflation is trending higher as prices for energy goods and other commodities rebound in response to a pick-up in global demand.

More in this category: « Eurozone Trade Balance surplus rose to 24.5 billion euros Australian Unemployment Rate fell to 5.7% »

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