According to the U.S. Census Bureau, retail sales in February were up 0.3 percent seasonally adjusted, compared to January 2020 and sales were 17.6 percent above February 2021. 

According to the National Retail Federation, the rate of gain in February slowed compared to January as inflation disfavored purchases of general merchandise, health and personal care, furniture and home furnishing, and electronics.  In contrast, clothing, building materials, and sporting goods showed higher sales.

Commenting on data, Jack Kleinhenz, Chief Economist for the National Retail Federation, stated “February retail sales reflected continued strong labor market conditions, but sales were certainly affected by higher consumer prices.”  He added, “Sales in February are another sign of the economy’s resilience, but the conflict in Europe is an increasing headwind that could dampen spending around the globe.”