Retail spending was robust in July as consumers snapped up summer sales and wages grew above the rate of inflation, a monitor’s report said Monday.

However, consumers might have rushed to buy certain products before President Trump’s heftier tariffs took root.

“Consumer spending increased in July, driven by successful summer sales events held by many retailers and shoppers continuing to pull purchases forward ahead of tariffs,” National Retail Federation President and CEO Matthew Shay said with the release of the CNBC/NRF Retail Monitor for July.

The Retail Monitor said core retail sales, excluding restaurant, car and gas purchases, were up nearly 6% year over year, and total sales were up 4.83% year over year for the first seven months.

The retail industry is at a critical juncture. 

Inflation has been tame this year despite doomsday predictions of a recession or major fallout from Mr. Trump’s trade agenda, and the robust July data came in the face of a blanket 10% tariff on imports that’s been in place for months.

Yet Mr. Trump only recently implemented his most ambitious plans.

On Thursday, the president imposed tariffs ranging between 15% and 41% on more than 67 countries, raising levies to their highest levels in over a century. He’s solidified the 10% blanket tariff on all imports and is implementing the 15% rate he negotiated with places like the European Union, Japan, and South Korea.

Major price increases from the tariffs may take weeks to appear, though Mr. Trump and his team are bullish about their approach. 

They say price tariff-related fluctuations would be a one-time increase, instead of a systemic inflation problem, and savvy consumers will buy tariff-free American products.

A consumer price index report, due Tuesday, should give the U.S. economy a sense of which direction prices are heading. Last month’s report showed some inflation for certain products, such as furniture. 

For now, consumers are hitting the checkout aisle.

“We may be seeing growing inflationary impacts from tariffs since recent data shows price increases in commodity goods, particularly non-durables,” Mr. Shay said. “Even with weaker job growth than many expected, consumers still have the ability to spend on household priorities as wages are growing above the rate of inflation.”

• Tom Howell Jr. can be reached at thowell@washingtontimes.com.