Reported 8 months ago
US retail sales data for May showed slower growth than expected, increasing by 0.1%. Argus Research Director of Economic Research Chris Graja discussed how inflation is impacting consumers' spending habits, forcing them to prioritize essential items over discretionary spending. Graja noted that even those with high incomes are seeking discounts, with the upcoming Back-to-School season seen as a crucial test for consumer spending. The report emphasizes the significant influence of inflation on consumer behavior.
Source: YAHOO