Retail sales in the United States decreased in July, marking the largest drop in over a year. This decline is attributed to ongoing inflation, increased grocery prices, and rising housing costs affecting consumer spending.
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U.S. Retail Sales Decline in July
In July, U.S. retail sales experienced a significant decline, the largest in more than a year. Factors contributing to this decrease include persistent inflation, higher grocery costs, and increasing housing expenses.
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July Retail Sales Notch Biggest Drop in Over a Year
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U.S. Retail Sales Decline in July