Key Points:
Retail and food services sales rose at a rapid 21.9% annualized rate in March, though much of this was driven by rising gasoline prices.
- Excluding gasoline stations, sales grew at a 7.6% annualized rate – comparable to sales growth in February.
Retail and Food Services Sales
Seasonally Adjusted Annualized Growth
Wage growth has generally moderated according to the Atlanta Fed’s Wage Growth Tracker.
- Adjusting for Consumer Price Index (CPI) inflation, real year-over-year wage growth is at the slowest pace seen since 2023.
Real Year-over-Year Wage Growth
