This week's government economic data revealed pockets of durable consumer spending despite sticky inflation, signaling a favorable quarter ahead and further upside for two of our retail stocks. First the numbers The consumer price index, a measure of retail inflation, saw its biggest monthly increase this year — a seasonally adjusted 0.6% gain in August that matched estimates. Higher energy costs were mostly to blame, including a 10.6% rise in gasoline prices.
This week's government economic data revealed pockets of durable consumer spending despite sticky inflation, signaling a favorable quarter ahead and further upside for two of our retail stocks.
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Stocks Climb, Shrugging Off InflationInvestors scooped up stocks in a bet that strong U.S. consumers and a resilient labor market will keep the market humming.
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