WASHINGTON (AP) — Retail sales rose for a fifth consecutive month in November, as the biggest jump in department store sales in two years gave the holiday shopping season a strong start. þþThe Commerce Department said retail sales increased 0.8 percent in November, which more than forecast. That came after a 1.7 percent gain in October, which was propelled by a huge increase in auto sales. þþAuto sales retreated a bit in November. But excluding autos, sales rose 1.2 percent — the best showing since last March. þþDepartment store sales jumped 2.8 percent, the strongest advance in two years. þþIn the second report, the Labor Department said that wholesale prices outside the volatile food and energy categories rose modestly last month because of a large increase in the cost of new cars. þþBut there was little sign of inflation in the report, which showed that the weak economy is keeping prices in check. þþThe Labor Department said that the Producer Price Index, which measures price changes before they reach the consumer, rose 0.8 percent in November. þþMost of that rise was driven by a sharp increase in energy prices, particularly a 4.7 percent rise in the cost of gasoline. þþExcluding the volatile food and energy categories, so-called “core” producer prices rose by only 0.3 percent. In the past year, the core index has increased by only 1.2 percent, the smallest 12-month change since June þþ
Source: NY Times
