US retail sales were flat in July as inflation takes a toll

The new report also showed some positive signs.

WASHINGTON — The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously.

Retail purchases were flat after having risen 0.8% in June, the Commerce Department reported Wednesday. Economists had expected a slight increase in July retail sales.

Still, Wednesday’s report included some positive signs: Excluding autos and auto parts, retail sales rose 0.4%. And purchases of building supplies and garden equipment held up, as did sales at electronics and appliance stores.

RELATED: Target takes a hit after heavy

→ Continue reading at KGW TV

Related articles


Share article

Latest articles