US retail sales top estimates, inflation seen driving headline growth

(Sharecast News) - US retail sales rose 0.6% in August, according to the Census Bureau, outpacing expectations for a 0.2% gain and matching July's upwardly revised increase. The Census Bureau said on Tuesday that core retail sales, which exclude autos, fuel, building materials and food services, rose 0.7% in August, following a 0.5% gain in July.

Much of the monthly increase was likely driven by higher prices rather than volume growth, with last week's inflation data pointing to the sharpest rise in consumer prices in seven months, particularly in food and apparel.





Reporting by Iain Gilbert at Sharecast.com