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Retail sales rose 0.3% in May despite pressure from higher inflation and interest rates


AP Retail Writer

NEW YORK (AP) — Americans increased their spending at retailers last month despite pressure from  still-high inflation and rising borrowing costs. Thursday’s report from the Commerce Department showed that retail sales rose 0.3% from April to May, , helped by stronger sales of auto dealers. Economists were expecting a decline for the month. Retail sales have been bumpy this year after surging nearly 3% in January. Sales tumbled in February and March but then recovered in April.The retail sales report offers only a partial look at consumer spending; it doesn’t include many services, including healthcare, travel and hotel lodging. Nor is U.S. retail sales data adjusted for inflation.

Article Topic Follows: AP National

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