US shoppers undaunted by inflation -- so far - NewsBreak

Stronger-than-expected retail sales data and earnings from big-box chains painted a heady picture of US consumers on Tuesday despite global supply chain snarls that have fueled inflation and created shortages. The Commerce Department reported retail sales in October scored their biggest month-on-month jump since March. Earlier, both Home Depot and Walmart released results that topped expectations, with the latter offering reassurances it expects sufficient inventories for the festive season and emphasizing a cautious approach in passing on higher costs to consumers. Together, the government data and earnings suggest that many consumers are still well situated thanks to a strong employment market and government support payments sent out earlier in the pandemic.