How Much Has Inflation and Free Money Goosed Consumer Spending? – Mish Talk

Earlier today I noted Retail Sales Easily Beat Expectations, US Treasury Yields Jump in Response

Here’s a key point that I mention every month: “Retail sales are adjusted for seasonal variation and holiday and trading-day differences, but not for price changes.

This month the CPI rose by 0.3 percent but sales rose by 0.9%. So even taking inflation into consideration, sales were on the hot side. 

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