The 800-pound gorilla in the room is inflation, which clocked in at 6.2% over the last 12 months in October, the largest increase since the 12-month period ending in November 1990. In October, the National Retail Federation forecast retail sales in November and December will increase between 8.5% and 10.5% from the previous year, respectively, to between $843.4 and $859 billion. Retail sales experts think Americans will boost holiday spending to record levels this year.
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