June Retail Sales Increased Despite Rising Inflation
Retail sales increased in June even as inflation climbed higher and drove up prices across the board, the National Retail Federation said today.
“June retail sales data shows that consumers remain on solid footing despite rising prices and an active Fed raising interest rates to combat it,” NRF President and CEO Matthew Shay said. “Inflation has consumers modifying their spending behavior and prioritizing essentials like food, energy and back-to-school items. Unfortunately, modified consumer behavior won’t be sufficient to offset persistent price increases. Other policy measures like removing China tariffs, enacting smart..."
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