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
If you enjoyed this article, please consider making a tax-deductible donation today. For over 30 years, The American Prospect has delivered independent reporting that exposes corporate power, investigates political corruption, and analyzes threats to our democracy. Unlike many media outlets, we’re not owned by billionaires or corporations—we’re powered by readers like you.
Today’s independent journalism faces unprecedented challenges. Your support makes our reporting possible and keeps our work free and accessible to all. Whether it’s $5 or $50, every contribution helps sustain our nonprofit newsroom.
Join our community of supporters and make a donation today to help keep independent journalism thriving.
