With more than $678 million in sales in July, 2023 year-to-date taxable sales reached $4.87 billion. Year-to-date sales were 4.2% higher than 2022 and 11.4% higher than 2021.
“Good news came from the Federal Reserve in August, when forecasters predicted growth in real GDP, an overall decline in the unemployment rate, and more job growth over the next four quarters. The estimate for the Core Consumer Price Index inflation remained unchanged,” said Mandi Mitchell, President and CEO of LEDA. “These are good indicators, that an interest rate hike may not happen at the Fed’s September meeting. As with the national trend, local retail sales continue to remain steady despite rising prices and borrowing costs.”
Total municipal taxable sales were up in Lafayette (4.1%), Broussard (7.6%), Carencro (4.6 %), Scott (10.0%), and Youngsville (2.9%). Sales were down in Duson by 5.4%. and unincorporated areas of the parish by 0.1%.
Sales tax collection numbers are gathered by the Lafayette Parish School System.
