U.S. retail sales in July show consumers still shopping despite inflation

Core retail sales rose in July, according to the National Retail Federation (NRF) calculations, the NRF said, although overall sales reported by the Census Bureau were flat on a monthly basis. Continued shopping, so strong year-over-year growth.

"Retail sales rose in July, supported by lower gas station prices and moderately lower inflation," said NRF President and CEO Matthew Shay. “Consumers are adjusting to higher prices by prioritizing essentials like groceries and back-to-school supplies, and retailers are working to absorb the impact of higher costs and help customers tap into their hard-earned cash. However, policy measures are needed to Such as removing China tariffs, implementing smart immigration reform and investing in supply chain resilience to ease inflationary pressures and reduce costs for American households.

"Retail sales are up sharply compared to a year ago, even though consumers are more discerning in this economic environment," said NRF chief economist Jack Kleinhenz. “Consumer spending is an encouraging sign as the economy kicks off the third quarter. Still, inflation remains uncomfortably high, albeit easing a bit, the worst for consumers and retailers alike. Important challenge. The future path of inflation remains a key factor for the economy and monetary policy as the Federal Reserve struggles to rein in price increases.

Jewelry diamonds can not only resist inflation, but also maintain and increase in value.
In the process of using luxury jewelry, it also takes into account the investment function

Overall retail sales in July were unchanged from June, but up 10.3% from a year earlier, the Census Bureau said. In contrast, June rose 0.8% month-on-month and 8.5% year-on-year. On the three-month moving average, sales rose 9.2% year over year.

Retail sales rose 0.8% in July, an unadjusted 7.1% year-over-year increase, NRF's calculation of retail sales showed. In June, sales rose 0.6% month-on-month and 6% year-on-year.