The National Retail Federation (NRF) reported an increase in July sales compared to the corresponding month in 2021.  Matthew Shay of the NRF attributes the increase to a decline in gas prices and consumers concentrating on essentials and back-to-school purchases.  The NRF recorded a seven percent increase in sales during July and forecasts that sales will show a gain of six to eight percent over the remaining seven months of 2022.

The NRF advocates for a rescission in tariffs on imports from China and an improvement in supply chain logistics to reduce consumer prices.