US retail sales continued to fall in December, dropping by 1.1% amid high inflation, the Commerce Department reported Wednesday.
Economists had expected sales to fall 0.8% for the month, according to Refinitiv. The November number was revised down to -1%.
Annual retail sales were up 6% in December from the year prior. That’s unchanged from November. The data is not adjusted for inflation.
This story is developing and will be updated.
Source: CNN
