This morning we got the first good evidence that the big decline in gas prices is helping American consumers.  Retail sales ex- gas increased +0.9%.  Total retail sales increased +0.7%.   October retail sales were also revised up +0.2% to +0.5%.  Here's the graph of retail sales since January 2013:

Since inflation was unchanged in October,  that means real retail sales in October set a new high.  Here are real retail sales through October with this morning's revision:

November prices are likely to be unchanged again, or even to show a decrease.  This means real, inflation-adjusted retail sales in November may actually have increased more tha +0.7%.

This is solid evidence that the decline in gas prices is having a positive effect on the US economy, and average American households.