Retail sales stagnant in September as high inflation eats into spending

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September CPI ‘clearly indicates’ inflation will be around much longer, analyst warns

RSM U.S. chief economist Joe Brusuelas and Ameriprise Financial private wealth advisor Nancy Daoud react to wild market swings after a hotter-than-expected September CPI report on ‘The Claman Countdown.’

Spending at retail stores fell flat in September as consumers continue to confront the hottest inflation in 40 years.

Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, was unchanged at 0% in September, the Commerce Department said Thursday. Economists surveyed by Refinitiv expected sales to increase 0.2%.

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