New data on retail sales today that gave a sense of all-important consumer spending as we head into the heart of the holiday shopping season.

The older data reveals that inflation is still here and consumers are still spending.

Awaiting new data on consumer sentiment and retail sales this week, analysts say people seem to be concerned about job availability, high prices, and their ability to keep up with monthly bills.

We’ll also hear from Home Depot and Lowe’s soon.

There is a lot of uncertainty about the economy right now.

Consumers are shopping for bargains at summer sales and small luxuries but spending less at restaurants.

That’s important because consumer spending accounts for more than two-thirds of GDP.

Unfortunately, even hard data may not help them get a clear picture of what’s going on in this economy.

Consumer spending wasn’t particularly strong last month, and Walmart will be raising prices soon, clearing the way for other retailers to do the same.

Its quarterly report shows ad sales, membership income and its third-party marketplace expanded. Their margins may help keep store prices low.