Retail sales rose 0.1% in July-August, after posting the biggest increase in 18 months the previous month, the Commerce Department reported Tuesday. Online retailers, sporting goods stores and home and garden stores all reported higher sales.
The data indicate that consumers can still spend more despite the cumulative impact of three years of excess inflation and higher interest rates.
Average wages, particularly for lower-income Americans, have also risen sharply since the pandemic, helping many consumers continue spending even as many necessities became more expensive.
The impact of inflation and consumer health has been a constant theme in the presidential campaign, with former President Donald Trump blaming the Biden-Harris administration for post-pandemic price increases.
Vice President Kamala Harris, meanwhile, denounced Trump’s claim that he would apply tariffs of 10% to 20% on all imports as a “Trump tax” that would further increase prices.
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