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Let's not be confused by the numbers. Yes, retail sales jumped 2.7% in August, but they are still down twice as much from last year -- 5.7%.
Gas stations saw an increase of 5.1% due to the increase in oil prices.
Wholesale prices rose 1.7% in August, after falling 0.9% in July. But again, keep in mind that wholesale prices are down 4.3% from a year ago. This month's rise was led by an 8.0% jump in energy prices and a 23% spike in the price of oil.
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