FOR IMMEDIATE RELEASE
MONTREAL, QC, August 3, 2021 (Press Release) –Numera today released the latest update of its Global Retail Sales Tracker, which suggests that global retail spending weakened from its April peak.
Real retail sales grew 4.7% year-over-year in July worldwide, maintaining the strong momentum of recent months. Retail volumes exceeded equilibrium consumption (the level of spending consistent with stable inflation) by about 0.5%, continuing to exert upward pressure on consumer prices. As expected, global inflation accelerated in July (+3.4% annualized), and in most major economies is now approaching long-term inflation expectations.