The CPI number you cite is for the year (November to November), the retail growth rate of 3.1% is for Nov. 1 to Dec. 24 only. Additionaly, that 3.1% number represents only retail growth, other (more booming) sectors grew by much larger percentages. For example, restaurants grew by 7.8%.
I see how those two numbers both being equal to 3.1% could be confusing at first, but they're not measuring the same thing at all.
I see how those two numbers both being equal to 3.1% could be confusing at first, but they're not measuring the same thing at all.