Retail sales fell flat in July amid high inflation
Retail sales fell flat in July amid high inflation
WASHINGTON (AP) — 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…