The advance retail and food sales for January (seasonally adjusted, nominal) increased 0.3% from December, less than estimated, and slower than the 0.5% growth in December (revised down from 0.6% as previously reported). Blame the weather again?
Source: Census Bureau
While the Empire State Manufacturing Survey points to continuous improvement in manufacturing. General business conditions rose to 15.4. Prices paid index rose to 45.78, highest in two and a half year, while prices received was little change. Overall, it seems that prices are going up all around the world now. The problem is whether it is fully reflected in CPI for the time being.