Retail sales increased 1.0% in May, beating the estimate of a 0.5% rise. April’s decrease was upwardly revised to a gain. Ex-autos, sales rose a strong 1.2%, ahead of the estimate of 0.7%, and April was revised higher.
The Import Price Index increased 2.3% in May, versus the estimate of 2.5%, and April was revised upward from 1.8% to 2.3%. Year-over-year, prices are up 17.8%, the largest since the index began in the early 1980s.
Business inventories rose 0.5% in April, ahead of the estimate of a 0.3% rise. Sales increased 1.4%, bringing the inventory-to-sales ratio to a lean 1.25.
Details from Bloomberg...
