NRF Reports Solid May Retail Growth As Shoppers Prioritize Essentials.

Retail sales increased for the eighth consecutive month in May as consumers continued spending despite elevated gas prices and inflationary pressures, according to data released by the National Retail Federation.

The CNBC/NRF Retail Monitor, powered by Affinity Solutions, showed total retail sales excluding automobile dealers and gas stations rose 0.42% on a seasonally adjusted basis from April and increased 7.19% from a year earlier. In April, sales were up 0.34% month over month and 5.73% year over year.

“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 in a news release. “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.”

Core retail sales, which exclude restaurants as well as auto dealers and gas stations, rose 0.39% from April and were up 6.98% from May 2025. That compared with gains of 0.34% month over month and 5.53% year over year in April.

For the first five months of 2026, total retail sales were up 6.29% from the same period a year earlier, while core sales increased 6.19%.

According to the NRF, retail sales increased in all but one of nine major categories on a year-over-year basis and in all but two categories on a monthly basis. Electronics and appliance stores, clothing stores, and health and personal care stores recorded the strongest annual gains.

The Retail Monitor is based on anonymized credit and debit card purchase data compiled by Affinity Solutions rather than survey-based estimates.

Specifics from key sectors include:

• Electronics and appliance stores: +0.05% month over month (MoM) seasonally adj.; +11.59% year over year (YoY) unadj.

• Clothing and accessories stores: +0.6% MoM seasonally adj.; +10.25% YoY unadj.

• Health and personal care stores: +0.45% MoM seasonally adj.; 8.87% YoY unadj.

• Sporting goods, hobby, music and book stores: +0.25% MoM seasonally adj.; +8.59% YoY unadj.

• General merchandise stores: +0.41% MoM seasonally adj.; +8.28% YoY unadj.

• Digital products (electronic books, games): +1.22% MoM seasonally adj.; +7.79% YoY unadj.

• Grocery and beverage stores: +0.48% MoM seasonally adj.; +6.01% YoY unadj.

• Furniture and home furnishings stores: -0.09% MoM seasonally adj.; +3.35% YoY unadj.

• Building and garden supply stores: -0.38% MoM seasonally adj.; -1.88% YoY unadj.