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September sales were up year-over-year in all but one individual retail category, electronics and appliance stores.

Despite continued inflation and an interest rate hike from the Federal Reserve, retail sales remained strong month-over-month with no change from August in September and in year-over-year comparisons, gaining 8.2 percent from September 2021.

September retail sales confirm that even with rising interest rates, persistent inflation, political uncertainty and volatile global markets, consumers are spending for household priorities, explained the National Retail Federation (NRF) President and CEO Matthew Shay.

Septembers totals from the U.S. Census Bureau compared with increases of 0.4 percent month-over-month month and 9.4 percent year-over-year in August. On a three-month moving average, sales were up 9.2 percent total year-over-year.

Sales were uneven across retail categories and inflation is the main factor that is determining how much shoppers are willing to spend, added Jack Kleinenz, the NRFs chief economist. Households are tapping into savings, accessing credit and reducing their savings contributions as they meet higher prices head on. Shoppers are looking for bargains and value in the current economic environment and even more so as we head into the holiday season.

The NRFs calculation of retail sales which excludes automobile dealers, gasoline stations and restaurants to focus on core retail showed September was up 0.3 percent from August and up 7.2 percent unadjusted year-over-year. In August, sales were also up 0.3 percent from the previous month and were up 8.5 percent in comparison to August 2021.

Numbers from the NRF were up 7.6 percent unadjusted year-over-year on a three-month moving average as of September. Sales were up 7.2 percent in yearly comparisons for the first nine months of the year, keeping results on track with NRFs forecast that 2022 retail sales will grow between 6 percent and 8 percent over 2021.

September sales were up in all but one individual retail category, electronics and appliance stores, on a yearly basis, with gains led by online sales, building materials stores and grocery stores, and increased in five out of nine categories on a monthly basis.

More specifically, online and other non-store sales were up 0.5 percent month-over-month seasonally adjusted and up 11.5 percent unadjusted year-over-year. General merchandise stores were up 0.7 percent from August and up 4.8 percent from September 2021.seasonally adjusted and up 4.8% unadjusted year over year. Clothing and clothing accessory stores were up in monthly and yearly comparisons, rising 0.5 percent and 4.5 percent, respectively. Furniture and home furnishings stores had a harder month, down 0.7 percent from August seasonally adjusted but up 1.5 percent unadjusted from 2021.

As we enter the holiday season, shoppers are increasingly seeking deals and discounts to make their dollars stretch, and retailers are already meeting this demand, concluded Shay. However, the Biden administration must enact policy measures to relieve inflationary pressure and lower costs for American families. While the Federal Reserve tackles long-term actions meant to end inflation, we believe removing China tariffs, enacting smart immigration reform to address the worker shortage, and increasing investments in supply chain resiliency can and will have an immediate impact on consumers and the economy.

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Retail Sales Grew Again in September. Hear from Experts on Whether or Not This Can Last - Gifts & Decorative Accessories