US retailers start the year with significant sales losses
Consumers in the United States face high inflation that will only decline gradually. Retail feels this too.
US consumer prices rose 3.1% in January, down from 3.4% in December.
Photo: Michael Reynolds/EPA/Keystone
US retailers are off to a surprisingly bad start to the year. Its sales fell by 0.8% in January compared to the previous month, the US Commerce Department announced Thursday. Experts polled by Reuters had expected only a 0.1% decline, after a downwardly revised 0.4% increase in sales in December.
Consumers in the United States are facing high inflation that is gradually declining. the Consumer prices rose 3.1% in JanuaryAfter a 3.4% increase in December. Through a tight monetary policy line, the Fed is trying to sustainably push inflation toward its 2% target. It has raised interest rates from near zero to the 5.25 to 5.5% range since the start of 2022. According to Federal Reserve Chairman Jerome Powell, the central bank has made progress in lowering inflation. However, before cutting interest rates, it wants to use incoming data to gain more certainty that inflation is moving sustainably toward the Fed's target. A shift in interest rates in financial markets is expected around the middle of the year.
Here you will find additional external content. If you consent to cookies being set by third-party service providers and that personal data is therefore transferred to third-party service providers, you can allow all cookies and view external content directly.
Reuters/Christian Terzic
Did you find an error? Report now.
“Tv expert. Hardcore creator. Extreme music fan. Lifelong twitter geek. Certified travel enthusiast. Baconaholic. Pop culture nerd. Reader. Freelance student.”
More Stories
Siemens shortly before ordering high-speed trains in the USA
Playmobil: German toy manufacturer records decline in sales
Kansai Airport in Osaka: Not a single piece of luggage has been lost since it opened 30 years ago