Mastercard: U.S. consumer retail spending up 9.5% in June

U.S. consumer retail spending rose by 9.5% year-over-year last month, according to the latest Mastercard SpendingPulse data report.

In-store spending (not counting auto and gas purchases), was up 11.7% year-over-year in June, with department store spending increasing 8.6% and e-commerce was up 1.1%. Fuel and convenience spending was up 42.1% from June 2021 and up 55.7% from pre-pandemic June 2019.

Spending on jewelry increased 16.2% from last year and shot up by 86.6% from June 2019. Luxury spending was up 4% from the previous year and 54% from three years back. Airline spending saw a 18.2% spike from 2021 but was only up by 7.3% from 2019, while lodging spending was rose 33.7% year-over-year and 30.4% from three years ago.

“Sector by sector, we”™re seeing a varied picture of how inflation is impacting essential vs discretionary consumer spending,” said Steve Sadove, senior advisor for Purchase-headquartered Mastercard. “One notable highlight is that travel sectors such as airlines and lodging continue to show signs of strong demand.”