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The new year is off to a strong start in retail.
The latest figures from the Commerce Department show shoppers going against the grain of inflation, loosening their purse strings and spending at rates not seen since March 2021.
Despite rising prices and hiking interest rates, retail sales actually jumped 3% to $697bn in January, representing the quickest one-month increase since pandemic-era stimulus checks spurred shoppers to spend more in the Spring of 2021.
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