Retail sales rise 0.7% in July from June as inflation continues to ease

Americans increased their spending last month as inflation continued to ease on eggs, electronics, used cars and other items, and the job market remains healthy. Retail sales rose 0.7% in July from June. The gain followed a revised 0.3% increase the previous month, the Commerce Department reported Tuesday. Excluding autos and gas, sales rose a solid 1%. Sales at a number of different outlets increased including department stores and clothing and accessories stores. But furniture and home furnishings stores and electronics stores remained weak.The uptick reflects the economy’s resiliency despite a still challenging economic environment of still high prices and higher interest rates that make borrowing on credit cards and getting a mortgage for a house more expensive.