US retail sales rose modestly last month amid solid holiday shopping, boosting economy Americans stepped up their spending at retail stores and restaurants last month in a clear sign that consumers are still able and willing to shop.
Still, on Wednesday the Labor Department said that core prices — excluding the volatile food and energy categories — rose more slowly last month, as clothing prices barely increases and apartment rental costs climbed at a slower pace.
Retail sales rose 0.4% in December from the previous month, the Commerce Department said Thursday, though down from November's upwardly revised 0.8% gain.
The retail sales report mostly reflects sales of goods, where prices have been relatively muted.
The figures suggest that even as many Americans are struggling with higher prices and elevated interest rates, a low unemployment rate and rising wages are encouraging millions of consumers to spend, bolstering economic growth.
