Consumer spending in grocery stores and restaurants in the United States showed growth in May despite inflation starting to hit home.
Latest figures from the US Commerce Department show spending on groceries went up 8.7 percent in May to reach $69.9 billion over May 2021.
Comparing the May 2022 totals to this past April’s $69.1 billion, American spending on food increased 1.2 percent.
Spending in restaurants in May reached $84.9 billion, up 17.4 percent compared to May 2021 – a time when many states were still in pandemic lockdowns. But comparing May 2022 to April 2022, spending increased by less than 1 percent.
Overall US retail sales fell in May for the first time in five months, led by dramatic drop in auto purchases and other big-ticket items. This suggests diminishing demand for goods amidst inflation rates not seen in decades.
