Retail sales up 0.1% in May from Apr as still high inflation curbs spending

Consumers barely increased spending in May from April as still high inflation and high interest rates curbed spending.

Retail sales rose 0.1 per cent in May, below the pace that economists projected, according to the Commerce Department. And April sales were revised downward a 0.2 per cent decline, from unchanged. Sales rose 0.6 per cent in March and 0.9 per cent in February. That comes after sales fell 1.1 per cent in January, dragged down in part by inclement weather.

Excluding gas prices and auto sales, retail sales rose the same amount.

Excluding sales from gasoline, whose prices have been falling, sales were up 0.3 per cent.

The retail sales data offers only a partial look at consumer spending because it excludes things like travel and lodging. However at restaurants, the lone service category tracked in the monthly retail sales report, sales fell 0.4 per cent in May.

Sales at clothing and accessory stores rose 0.9 per cent, while electronics and appliance stores posted a 0.