close video September CPI ‘clearly indicates’ inflation will be around much longer, analyst warns

RSM U.S. chief economist Joe Brusuelas and Ameriprise Financial private wealth advisor Nancy Daoud react to wild market swings after a hotter-than-expected September CPI report on ‘The Claman Countdown.’

Spending at retail stores fell flat in September as consumers continue to confront the hottest inflation in 40 years.

Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, was unchanged at 0% in September, the Commerce Department said Thursday. Economists surveyed by Refinitiv expected sales to increase 0.2%.

That is a marked decline from the upwardly revised data in August, which showed that retail sales actually climbed 0.4%. 

The August advance is not adjusted for inflation – which rose 0.4% last month – meaning that consumers may be spending the same but getting less bang for their buck. 

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