Retail Spending Unchanged in July 

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Retail sales were unchanged in July, holding steady at a seasonally adjusted 0.0% from June. Consumers are still spending at retailers but high inflation and low confidence has impacted the level of spending. Retail sales numbers are not adjusted for inflation, so though consumers spent more, they got less. 

Falling energy prices are partially responsible for the neutral growth, as consumers spent relatively less to fill their tanks in July compared to earlier in the year. Spending at gasoline stores fell 1.8% in July. Excluding gas stations and volatile motor vehicle and parts stores, retail sales were up 0.7%

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