U.S. business inventories increased 0.8% month over month in July 2026, following an upwardly revised 0.1% rise in June and exceeding the expected 0.3% advance. It was the strongest monthly increase since March, led by merchant wholesalers, where inventories rose 1.3% compared with 0.4% in June. Retail inventories increased 0.8% after falling 0.2% in June, while manufacturers’ inventories rose 0.4% after a 0.1% increase. Business inventories were up 3.8% year over year.