Retail sales drop most in 11 month

Retail sales drop most in 11 month

Retail sales fell the most in nearly a year during November, even as the holiday shopping season kicked into gear.

The overall value of sales dropped 0.6% from the prior month, after jumping 1.3% in October

The Commerce Department's figures don’t account for inflation, which has only begun to decline from a decades-high level.

Stores including Walmart and Target have said shoppers are spending more on food and other necessities than on discretionary items, including furniture and toys.

The November and December holiday shopping season accounts for a fifth of retailers’ annual sales

Retail sales took a sharp drop at the beginning of the holiday shopping season.

But it's not necessarily a negative: the goal was to slow inflation so prices come down. This reflects lower prices.