New York (CNN Business) Holiday sales grew at their fastest pace in six years, buoyed by rising wages and a drop in gas prices.

Retail spending from November 1 through December 24 increased 5.1% from a year ago, according to Mastercard SpendingPulse . Shoppers spent more than $850 billion during the holidays.

Unfazed by volatility on Wall Street , consumers flooded into stores and bought clothes and home decor online. Gas prices have dropped by more than 20 cents a gallon over the past month, giving shoppers extra cash for the holidays.

"Consumer confidence translated into holiday cheer for retail," said Steve Sadove, senior advisor for Mastercard and former CEO of Saks Fifth Avenue.

The strong holiday shopping season is another sign many Americans are disconnected from the day-to-day stock market action.