August U.S. Retail Spending Results Reflect Easing Inflation
Declining prices contribute to slowing growth in food and beverage spending, and back-to-school shopping remains tardy
In August 2023, U.S. retail sales revenue, including both discretionary general merchandise and consumer packaged goods (CPG), remained unchanged compared to the same month last year, and unit sales declined 2%. Discretionary general merchandise spending declines continued with a 5% decline in dollar sales and 7% drop in unit sales compared to last August. CPG spending gains slowed slightly from last month, with 3% growth in food and beverage, a 2% increase in...
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