According to the, the sales increased by 0.7 percent even after gasoline was removed from the equation. Commerce Department data.
According to the report, American consumerEven with the fastest inflation in over four decades, many people still eat out and buy furniture and cars.
This presents a challenge to the Federal ReserveThis company has been looking for evidence of its aggressive interest. Rate increasesThey were attempting to stabilize the economy and lower high prices.
The total sales fell 0.1 percent in May but rebounded with a vengeance last Month.
According to the report, record gas prices at the pumps in June played a significant role in driving sales up 3.6 percent. This was after a 49.1 percent increase from June 2021.
After a May drop of 3.4 percent, auto sales increased 0.9 percent in June. furniture storesRestaurants saw their sales increase by one percent or more. Online sales increased by 2.2 percent.
The data revealed that clothing and building and gardening shops were the only categories to see declines.