We're still shopping

Overall retail sales for January were up 3.8% and 2% higher than expected.

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The American shopper. Still undefeated.
Welcome to the Know the Difference Minute
Eventually, rising prices will affect spending. There’s gonna be a point when shoppers simply say No Mas. We’re just not there yet, even with a drop in consumer confidence.
According to a Census Bureau report for January, we’re shaking off higher prices. In fact, we might be buying more. Overall retail sales were up 3.8% and 2% higher than expected. In all, spending for last month was $650 billion. That’s the strongest monthly gain since last March when stimulus checks were flowing.
One economist said households are paying higher prices while purchasing larger volumes of goods and services. This might be a sign of the supply chain loosening and goods finally hitting stores. Gains were broad with sales increases for vehicles, furniture, and building materials. Bars and restaurants were off due to Omicron.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.