US retail sales dip amid inflation, shift to spending on services

The United States Department of Commerce reported that retail sales decreased 1.1 percent in July as worries over the Delta variant of the coronavirus curbed spending.

United States retail sales dipped in July as American consumers shifted spending towards restaurants, bars and gas stations while others stayed home as the Delta variant of the coronavirus surged in parts of the country. Retail sales fell 1.1 percent in July compared to June, data from the US Department of Commerce showed on Tuesday. Retail sales for June were revised 0.7 percent higher. Retail trade sales were down 1.5 percent from June, but still up 13.3 percent compared to last year, the data revealed.