The Wall Street Journal told readers that same store retail sales rose by 2.5 percent this May compared with May of 2006. The Journal describes this as a modest gain. That is generous. This is a year over year nominal increase in sales. The rate of inflation in the items sold in these stores was in the 1.0-2.0 percent range, which implies a real year over year increase of 0.5 to 1.5 percent. That is very modest.
--Dean Baker
Unlike many news organizations, the Prospect has remained staunchly committed to keeping our journalism free and accessible to all. We believe that independent journalism is crucial for a functioning democracy—but quality reporting comes at a cost.
This year, we’re aiming to raise $75,000 to continue delivering the hard-hitting investigative journalism you’ve come to expect from us. Your support helps us maintain our independence and dig deeper into the stories that matter most.
If you value our reporting, please consider making a contribution today. Any amount helps secure our future and ensure we can continue holding power to account.
Will you support independent journalism with a donation to the Prospect?
