real retail sales

May Retail Sales Boost PCE Contribution to 2nd Quarter GDP

Seasonally adjusted retail sales rose 0.5% in May after retail sales for March and April were revised slightly higher..  The Advance Retail Sales Report for May (pdf) from the Census Bureau estimated that our seasonally adjusted retail and food services sales totaled $455.6 billion for the month, which was an increase of 0.5 percent (±0.5%)* from April's revised sales of $453.6 billion and 2.5 percent (±0.7%) above the adjusted sales of May of last year.

February CPI down 0.2% on Cheaper Gasoline; 0.3% Rise in Core Prices Reduces Real PCE

Consumer prices for food and most goods and services were all up in February, but another big drop in energy prices dragged the overall index down.   The Consumer Price Index Summary from the Bureau of Labor Statistics indicated that seasonally adjusted prices fell by 0.2% in February after they had been unchanged in January and fallen 0.1% in December.