Retail sales continued to increase in May, though at a slower pace as consumers eased back on early purchasing ahead of potential tariffs, according to the CNBC/NRF Retail Monitor powered by Affinity Solutions and released by the National Retail Federation (NRF).

“The data for May indicates that the pull-forward in consumer demand ahead of tariffs is likely dissipating,” says NRF president and CEO Matthew Shay. “While momentum remains, the nature of consumer spending is shifting as economic uncertainty increases. Consumer fundamentals haven’t been damaged yet, and a slowing-but-still-growing job market is supporting household priorities ahead of any meaningful price increases in the coming months.”

Total retail sales—excluding auto dealers and gas stations—rose 0.49% month over month on a seasonally adjusted basis and 4.44% year over year in May. This follows increases of 0.72% month over month and 6.76% year over year in April.

Core retail sales—which exclude restaurants, auto dealers, and gas stations—were up 0.23% month over month and 4.2% year over year in May, compared with increases of 0.9% month over month and 7.11% year over year in April.

For the first five months of 2025, total sales increased 4.95% year over year, while core sales rose 5.24%.

The Retail Monitor differs from survey-based data by using anonymized credit and debit card transaction information compiled by Affinity Solutions, which eliminates the need for later revisions.

On a yearly basis, sales in May increased in seven out of nine categories, led by digital products, sporting goods stores, and general merchandise stores. On a monthly basis, six categories posted gains. Here are some specifics from key sectors seasonally adjusted from last month and unadjusted year over year:

Digital products were up 1.81% from last month and up 28.04% compared to last year.

Sporting goods, hobby, music, and book stores were up 0.42% from last month and up 8.21% compared to last year.

• General merchandise stores were up 0.4% from last month and up 4.63% compared to last year.
• Grocery and beverage stores were up 0.46% from last month and up 4.53% compared to last year.
• Health and personal care stores were up 0.06% from last month and up 3.85% compared to last year.
• Clothing and accessories stores were up 0.67% from last month and up 3.21% compared to last year.
• Electronics and appliance stores were down 1.98% from last month but up 2.58% compared to last year.
• Furniture and home furnishings stores were down 0.24% from last month and down 0.1% compared to last year.
• Building and garden supply stores were down 2.3% from last month and down 7.31% compared to last year.