Retail Sales Slowed in May Amid Growing Inflation 'Concern’: NRF
May retail sales through electronics and appliance stores fell 1.3% from April and were down 4.3% year over year, reported the National Retail Federation Wednesday. Overall retail sales in May were down 0.3% from April but up 8.1%, said NRF.…
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That compared with increases of 0.7% month over month and 7.8% year over year in April, it said. “Retail sales are reflecting Americans’ growing concern about inflation and its impact on the cost of everything from groceries to gas,” said NRF CEO Matthew Shay. “We continue our call on the administration to repeal unnecessary and costly tariffs on goods from China to relieve pressure on American consumers and their family budgets.”