Higher prices haven't kept consumers from continuing to spend

According to new data, despite a fresh wave of coronavirus infections, the public spent big on cars, home decor, and building supplies in January to boost retail sales to a record high and generate the most significant increase in 10 months.

According to recent figures from the Department of Commerce, retail and food services sales hit $649.8 billion last month, the highest total since the federal government began tracking the numbers three decades ago. The department said that the total grew 3.8% from December and 13% from the same time last year.