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Retail sales rise a meager 0.1% in May from April as still high inflation curbs spending

Posted on AllSides June 18th, 2024
From The Left

NEW YORK (AP) — Consumers barely increased spending in May from April as still high inflation and high interest rates curbed spending. Retail sales rose 0.1% in May, below the pace that economists projected, according to the Commerce Department. And April sales were revised downward — a 0.2% decline, from unchanged. Sales rose 0.6% in March and 0.9% in February. That comes after sales fell 1.1% in January, dragged down in part by inclement weather. Excluding gas prices and auto sales, retail sales rose the same amount. Excluding sales from...

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https://apnews.com/article/retail-sales-inflation-consumers-spending-133dddade5695587b22c4fd362a5fadc

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