Economy

US retail sales rise sharply in September with energy, food spendings

Sales at gasoline stations up 38.2% from last year, food services rise 29.5%

Ovunc Kutlu   | 15.10.2021
US retail sales rise sharply in September with energy, food spendings

ANKARA

US retail sales rose sharply in September, according to figures released by the Commerce Department on Friday.

Retail sales came in at $625.4 billion, up 0.7% from a revised level of $620.9 billion in August.

While analysts expected a 0.2% decline on a monthly level, the figure in August was revised up from an increase of 0.7% to 0.9%.

The annual increase in September was 13.9%, compared to the same month of 2020.

"Gasoline stations were up 38.2% from September 2020, while food services and drinking places were up 29.5% from last year," the agency’s Census Bureau said in a statement.

They were followed by clothing and accessories stores with an annual increase of 22.4%, and electronics and appliance stores with 17.2%.

High inflation continues to be a major problem for the American economy.

The consumer price index (CPI) in September rose 0.4% from the previous month and 5.4% from the same period last year, while the producer price index (PPI) increased 0.5% on a monthly basis and 8.6% annually, according to the latest figures of the Labor Department.

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