U.S. Retail Sales Jump As Inflation Surges – The Wall Street Journal

Consumers spent broadly at the start of the year, with higher prices eroding some spending power but demand strong

Some think rising inflation means companies are forced to raise their prices. But as WSJ’s Dion Rabouin explains, it actually works the other way around: Corporations actually drive inflation, and data show that they have been and will continue to push prices up for some time. Illustration: Elizabeth Smelov

U.S. shoppers boosted spending at the start of the year as the Omicron wave of Covid-19 started to recede and inflation reached a four-decade high.

Retail sales, a measure of spending at stores, online and in restaurants, rose by a seasonally adjusted 3.8% in January from the prior month, the Commerce Department said Wednesday.

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