Mastercard SpendingPulse: U.S. Consumers Continued to Spend in July While Navigating High Inflation

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Aug 04, 2022

According to Mastercard+SpendingPulse%3Csup%3ETM%3C%2Fsup%3E, which measures in-store and online retail sales across all forms of payment, U.S. retail spending excluding automotive increased +11.2% year-over-year in July, while retail sales excluding automotive and gas rose +9.0%. Notably, e-commerce sales were up 11.7% YOY, a sharp increase after months of softer growth. Rising prices—particularly for necessities such as food and fuel—were a contributing factor, as Mastercard SpendingPulse reflects nominal spending and is not adjusted for inflation.