Retail sales unchanged in June from May as inflation moderates
Shoppers paused their spending June from May as they deal with moderating inflation but still high interest rates that have made buying anything on credit more expensive
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Shoppers paused their spending June from May as they wrestle with moderating inflation but still high interest rates that have made buying anything on credit more expensive.
Retail sales were unchanged in June from May, which was better than economists expected, after being revised at up 0.3% in May, according to the Commerce Department. Last month, April sales were revised downward — a 0.2% decline, from unchanged. Sales rose 0.6% in March and 0.9% in February. That comes after sales fell 1.1% in January, dragged down in part by inclement weather.
Excluding gas prices and auto sales, retail sales rose 0.8%.
Online sales rose 1.9% while business at restaurants rose 0.3%. Clothing and accessories store sales rose 0.6%.
Government retail data isn’t adjusted for inflation, which declined 0.1% from May to June, according to the latest government report. High inflation helps to inflate retail sales figures.