axios.com/retail-sales-december-covid-holiday-shopping-63656b9e-b6e5-446c-afcd-0154ad46f4c4.html

Retail sales fell 1.9% in December compared to the previous month, suggesting that shoppers bought holiday gifts earlier last year as they faced rising inflation and supply chain issues.

Driving the news: The data is much lower than the 0% change predicted by economists, according to FactSet.

Total sales for 2021 were up 19.3% from 2020, according to data from the U.S. Census Bureau out Friday.

The big picture: Expectations for shortages due to supply chain issues and the desire to avoid crowds amid a COVID surge may have pulled some holiday sales forward.

Consumer prices jumped 0.5% in December, outstripping the rise in retail sales.

Between the lines: The numbers aren't adjusted for inflation, meaning sales decreased despite consumers buying fewer goods for more money.

Go deeper: Inflation hit 7% in December, its highest since 1982

Tap to copy the Short Url to this post:
bto.sh/hazev7kn 
All Business News on a Single Page. Join for Free →