“As inflation for goods levels off, March’s data demonstrates steady spending by value-focused consumers who continue to benefit from a strong labor market and real wage gains.”

National Retail Federation president and CEO Matthew Shay commenting on the CNBC/NRF Retail Monitor, released by the NRF. He added, “In this highly competitive market, retailers are having to keep prices as low as possible to meet the demand of consumers looking to stretch their family budgets.”