Retail sales rose for the eighth consecutive month in May despite high gas prices and ongoing inflation, according to the CNBC/NRF Retail Monitor report released by the National Retail Federation (NRF).

According to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, total retail sales, excluding auto dealers and gas stations, were up 0.42 percent seasonally adjusted month-over-month and up 7.19 percent unadjusted year-over-year in May. That compares with increases of 0.34 percent month-over-month and 5.73 percent year-over-year in April.

The Retail Monitor’s calculation of core retail sales, excluding restaurants, auto dealers, and gas stations, rose 0.39 percent month over month in May and 6.98 percent year over year. That compares with increases of 0.34 percent month over month and 5.53 percent year over year in April.

Total sales were up 6.29 percent year over year during the first five months of the year, and core sales were up 6.19 percent.

“Retail sales-maintained momentum in May, driven by a resilient labor market and consumers’ continued willingness to spend on retail goods despite pressure from elevated gas prices, tariffs and the conflict in the Middle East,” NRF President and CEO Matthew Shay said. “As support from this year’s large tax refunds fades, consumers are prioritizing essentials and finding creative ways to stretch their household budgets. To support them, retailers are actively engaging their supply chains and supplier networks to keep prices affordable.”

Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.

April sales were up in all but one of nine categories on a yearly basis, led by electronics and appliance stores, clothing stores and health and personal care stores, and were up in all but two categories monthly. Specifics from key sectors include:

  • Electronics and appliance stores were up 0.05 percent month over month, seasonally adjusted, and up 11.59 percent year over year, unadjusted.
  • Clothing and accessories stores were up 0.6 percent month over month, seasonally adjusted, and up 10.25 percent year over year, unadjusted.
  • Health and personal care stores were up 0.45 percent month over month, seasonally adjusted, and up 8.87 percent year over year, unadjusted.
  • Sporting goods, hobby, music, and bookstores were up 0.25 percent month over month, seasonally adjusted, and up 8.59 percent year over year, unadjusted.
  • General merchandise stores were up 0.41 percent month over month, seasonally adjusted, and up 8.28 percent year over year, unadjusted.
  • Digital products (such as electronic books and games) were up 1.22 percent month over month, seasonally adjusted, and up 7.79 percent year over year, unadjusted.
  • Grocery and beverage stores were up 0.48 percent month over month, seasonally adjusted, and up 6.01 percent year over year, unadjusted.
  • Furniture and home furnishings stores were down 0.09 percent month over month, seasonally adjusted, but up 3.35 percent year over year, unadjusted.
  • Building and garden supply stores were down 0.38 percent month over month, seasonally adjusted, and down 1.88 percent year over year, unadjusted.

Image courtesy CNBC/NRF