Despite ongoing high inflation United States March retail sales saw gains, according to data issued today by the United States Department of Commerce and the National Retail Federation (NRF).
Commerce reported that March retail sales—at $665.7 billion—rose 0.5% compared to February and were up 6.9% annually. It also noted that total retail sales, from December 2021 through March 2022, increased 12.9% compared to the same period a year ago. Based on its Commerce’s data, retail sales have seen annual gains every month going back to March 2020.
Retail trade sales were up 0.4% annually, with gasoline stations up 37.0%, and food services and drinking places up 19.4%.
