Consumer Takeaway - Too Much Tipping!

The results are in: Americans opened their wallets over the Holidays. Retail sales rose 5.6% in December compared to a year ago. Higher prices contributed to the increase, but not all of it. The Consumer Price Index (CPI) was up 3.4% in December. That was a sharp decline from the inflationary pressures in 2022. Inflation is going back in the right direction. To be clear, prices are still rising. They're just rising at a slower rate than last year.