Retail sales rise a meager 0.1% in May from April due to inflation

NEW YORK CITY, New York: Consumers increased spending only marginally in May, as persistently high prices for necessities and elevated interest rates restrained their purchasing power.

According to the Commerce Department, retail sales rose 0.1 percent in May, falling short of economists' expectations. April sales were revised downward to a 0.2 percent decline from a previously reported unchanged figure. This fo