Redbook retail growth slows to 5.2%. Inflation hits food, apparel, and home goods. Even wealthy consumers are cutting back.
Retail is cooling. Not collapsing. But the heat is gone. The latest Redbook Index shows year-over-year growth of 5.2% for the week ending July 19. That’s down from 5.9% the week prior. The sample covers 9,000 stores and represents 80% of the Commerce Department’s retail data. It’s nominal. Not inflation-adjusted. So the real story is …