Consumer Behavior

US consumer retail spending rose in June

Photo by istock.com

July 22, 2022

Retail spending by U.S. consumers rose 1% in June even as inflation hit a new high.

The news comes as consumers are facing higher prices not just at the gas pump but with everyday items and May's slight decline in sales, according to a Wall Street Journal report.

The increased spending was on house furniture, food and dining out, according to Commerce Department insight.

"The consumer has the ability to navigate these price increases," Michelle Meyer, chief U.S. economist at the Mastercard Economics Institute, told the WSJ. "But clearly there is some frustration."