IE Business Daily Business news for the Inland Empire.
U.S. retail sales rose for the sixth consecutive month in March, thanks to higher-than-normal tax returns that made up for higher gas prices, according to data released April 14.
Total retail sales, excluding automobile dealers and gasoline stations, were up 0.4 percent month-over-month and up 6.6 percent year-over-year, the CNBC/National Retail Federation reported.
The former was seasonally adjusted; the latter was not. In February those numbers were increases of 0.2 percent and 6.2 percent, respectively.
“Despite record low consumer sentiment and the highest inflation rate in two years, consumers continued to spend on household priorities,” said Matthew Shay, the federation’s president and chief executive officer, in the statement. “As consumers focus on costs, retailers remain laser-focused on keeping prices competitive and affordable.”
Total sales were up 6.1 percent year-over-year. Tax returns averaged $3,521 as of late March, up 11.1 percent from the first quarter of 2025, according to the report.
