Wednesday, July 15, 2009

Retail Sales Volume Likely Down in June

Today we learn that the CPI in June was 0.7 percent higher than in May. Yesterday it was reported that retail sales were up 0.6 percent, which suggests that the volume of retail sales was essentially constant May-June. ie, the only reason retails had more $ sales is that (on average) they were charging more, not selling more items.

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