Retail sales fell 0.6% last month, marking the biggest decrease since May 2025, compared with a revised gain of 0.2% in June, according to the Commerce Department data released Friday. Economists were projecting a small increase.
We analyze 125,000 US households' transactions to measure how the 2025 tariffs affected spending. Tariffs passed through 15-20% to retail prices, raising affected-good prices 1-2%. But households cut spending by 4%, three to four times the price increase. (1/3) www.federalreserve.gov/econres/feds ...
