US wholesale inventories rose 0.2% month-over-month to $944.7 billion in June 2026, below a 0.3% gain in the advance estimate. The latest reading marked the fourth consecutive month of slower inventory growth after a 1.5% increase in March, the strongest since mid-2022. Compared with a year earlier, wholesale inventories were 4.2% higher. Meanwhile, the inventories-to-sales ratio for merchant wholesalers, excluding manufacturers’ sales branches and offices, stood at 1.19 on a seasonally adjusted basis, down from 1.30 in June 2025.