Lower Gasoline Prices Cool Retail-Sales Growth

U.S. retail sales grew only 0.2% in June compared with the previous month, according to the Commerce Department, a slowdown from May’s 1% increase. The report links the weaker momentum to cooler gasoline prices that followed an Iran ceasefire. Because the monthly retail-sales figures are not adjusted for inflation, the headline performance reflects nominal changes rather than real purchasing power. The article truncates after noting that retailers cut costs as gasoline prices eased. Overall, the data point suggests that changes at the pump played a role in moderating consumer spending growth from May to June.