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- 📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
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Analysis: Tariffs drive up product prices, U.S. retail sales in June far exceed expectations.
According to TechFlow news on July 17, Jin10 data reported that U.S. retail sales in June rebounded stronger than expected, but some of the growth may reflect rising prices of certain goods affected by tariffs. Data released on Thursday showed that retail sales rose 0.6% last month, while retail sales for May were revised down to a decline of 0.9%, a reading that exceeded the market's general expectation of a 0.1% rise. Part of the increase in retail sales last month may have been driven by price rises due to tariffs rather than sales volume. This week's inflation data showed that prices for tariff-sensitive goods (such as household items, electronics, sports equipment, and toys) steadily increased in June. Retail sales excluding automobiles, gasoline, building materials, and food services rose 0.5% last month, revised down from 0.2% in May. Sam Bullard, a senior economist at Wells Fargo, stated: 'Overall, it seems that the household sector is still supporting, but consumer spending appears to be slowing down.'