The Department of Commerce reported that retail sales volumes in June increased by 0.2% compared to May, reaching 768.6 billion USD, which met analysts’ expectations.
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However, the report adds that this was a noticeable slowdown compared to the 1% jump in May.
Excluding motor vehicles and parts, sales decreased by 0.2%.
The department added that spending also declined in food and beverage stores, as well as health and personal care stores.
Although gas station sales fell 5.3% from May to June, this decrease coincided with a drop in energy prices, anticipating a long-term truce between the US and Iran. However, since then, military actions have resumed, causing prices to rise again.
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The conflict between the US and Israel with Iran, ongoing since the end of February, provoked a response from Tehran: it almost completely blocked the Strait of Hormuz, one of the main waterways for energy resource transportation. Energy prices surged sharply.
This also caused prices at US gas stations to rise, increasing pressure on President Donald Trump’s administration ahead of this year’s midterm elections.
According to the Department of Commerce data, compared to last June, retail sales volumes this year were 6.7% higher.
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