Retail sales increased by 0.6% in December 2016 after an increase of 0.2% in November. Excluding autos, retail sales declined from 0.6% in October to 0.3% in November and 0.2% in December. Excluding gas, retail sales showed little change after November's 0.3% advance. In December, declining components to retail sales included electronics and appliances, food and beverages, general merchandisers, and food service and drinking places, while motor vehicles and parts and gasoline stations were strongest.
Consumer Price Index
The Consumer Price Index (CPI) rose 0.3% in December 2016, up from an increase of 0.2% in November. Food was unchanged, as energy prices rose 1.5%, a decline from October's 3.5% rise but ahead of November's 1.2% rise. Core CPI was up 0.2% after being up 0.1% in October and 0.2% in November. As the new administration's policies roll out, they may affect or disrupt future inflation.
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