By Lynn Petrak
Source: Progressive Grocer
A couple of days after the latest CPI data revealed a 0.1% uptick in overall prices and food-at-home prices, information from another arm of the U.S. government indicated that consumer resilience is just as sticky as inflation. The Census Bureau reported a 0.3% increase in retail sales from April to May and year-over-year bounce of 1.6%.
Retail and foodservice sales hit $686.6 billion last month on an adjusted basis, according to the Census Bureau’s advanced estimates. Within the grocery sector, sales edged up slightly to nearly $73.8 billion compared to $73.6 billion in April and $73.7 billion in March. For the first five months of 2023, grocery sales topped $361.4 billion, a 4.6% lift over the same period in 2022. Information on warehouse club and supercenter sales is not yet available from the agency.
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