Roundup: U.S. retailers reel as bankruptcies surge amid inflation, high interest rates

LOS ANGELES, July 11 (Xinhua) -- From coast to coast, retailers big and small are grappling with a harsh economic reality in the United States: store closures, layoffs, and a growing number of bankruptcies continue plaguing the industry, spurred by rising inflation and high interest rates.

According to the U.S. Labor Department Thursday, the consumer price index (CPI) rose 3 percent in the 12 months through June