- The Census Bureau Approved US retail and hospitality sales were down 0.4% w/w compared to -0.3% consensus and 3.2% growth in January and up 5.4% from February 2022.
- Total sales increased by 6.4% Y/Y between December 2022 and February 2023.
- Retail sales fell 0.1% from January but were up 4% year-on-year.
- Core retail sales, which exclude gasoline and autos, were flat 0.0% w/w versus estimates for a decrease of 0.9% and +2.8% earlier (corrected from +2.6%).
- On Tuesday, the Labor Department reported a 6% year-on-year rise in the consumer price index (CPI) for February, up from 6.4% in January.
- On a month-to-month basis, CPI rose 0.4%, also in line with estimates. Core CPI beat expectations month-on-month, up 0.5% versus an estimate of 0.4%.
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