Total seasonally adjusted retail spending climbed 0.2% month over month to $561.7 billion in October, representing the weakest monthly growth recorded since November 2025. Although nine of 11 sectors grew annually, households cut back on categories like furniture while seeking discounts. The pullback occurs alongside broader economic pressures, including an unexpected 0.4% jump in the October consumer price index. Furthermore, a net 37% of businesses plan to raise prices over the coming quarter.
Key points
Shoppers are actively leaning on early promotional discounts and sales events to stretch…: Shoppers are actively leaning on early promotional discounts and sales events to stretch their family budgets.
Monthly retail spending growth has decelerated to its lowest rate in nearly a full year.: Monthly retail spending growth has decelerated to its lowest rate in nearly a full year.
Looming price increases from independent businesses and elevated inflation metrics threat…: Looming price increases from independent businesses and elevated inflation metrics threaten to prolong consumer pressure.
Sources checked by our analysis pipeline: 1
Retail sales rose at their slowest pace in nearly a year in October as American consumers showed signs of strain from high prices, according to the latest CNBC/NRF Retail Monitor.
Total retail spending on a seasonally adjusted basis came in at $561.7 billion in October, a 0.2% increase from a month prior and 3.6% above where it sat a year ago, according to exclusive data released Wednesday.
Core retail spending, which excludes restaurant spending, rose 0.3% month over month to $454.2 billion. Core spending was 3.4% higher than a year earlier.
The monthly growth rate for total spending was the lowest since November 2025, an indication that shoppers are growing choosier as higher prices pinch pocketbooks. A strong Halloween season and an early start to holiday promotions kept the figure from being even lower, the NRF said.
"Households are managing budgets carefully, timing purchases around special offers and sales events in order to stretch their dollars," said Matthew Shay, CEO of the National Retail Federation. "Retailers continue to offer promotions and value pricing to keep everyday items and holiday gifts…
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