**US retail sales jumped in July, but momentum may not last**
* Sales rose 1.0% last month, above expectations
* However, economists warn that rising inflation and interest rates could cool spending
* The data suggests that the US economy is still growing, but at a slower pace
US retail sales jumped 1.0% in July, above expectations, as consumers continued to spend despite rising inflation and interest rates.
The increase was driven by strong sales of motor vehicles, furniture, and electronics, the Commerce Department said on Wednesday.
However, economists warned that the momentum may not last as inflation continues to erode consumers’ purchasing power and interest rate hikes make borrowing more expensive.
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