Salem Radio Network News Sunday, January 29, 2023

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Holiday sales up 7.6% despite the squeeze of inflation

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( ) -q-27- UNDATED (Correspondent Jeremy House) “remains painfully high.”

Holiday sales rose as American spending remained resilient during the critical shopping season despite surging prices on everything from food to rent.

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TAG: Correspondent Jeremy House reporting.

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VERBATIM: Mastercard SpendingPulse says holiday sales rose 7.6, a slower pace than the 8.5% increase from a year earlier when shoppers began spending the money they had saved during the early part of the pandemic. Mastercard SpendingPulse had expected a 7.1% increase. The data excludes the automotive industry and is not adjusted for inflation, which has eased somewhat but still remains painfully high.

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