US retail sales rose 1.3% last month, a sign of resilience

KIFI

Published November 16, 2022 7:00 AM

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Americans stepped up their spending at retailers, restaurants, and auto dealers last month, a sign of consumer resilience as the holiday shopping season begins amid painfully high inflation and rising interest rates. The government said Wednesday that retail sales rose 1.3% in October from September, up from a flat reading in September from August. The increase was led by car sales and higher gas prices. Still, excluding autos and gas, retail spending rose 0.9% last month. Even adjusting for inflation, spending increased at a solid pace. Prices rose 0.4% in October from September.

Article Topic Follows: AP National Business

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