Retail Sales Slow In March As Gas Prices, Inflation Trim Spending

Retail Sales Slow In March As Gas Prices, Inflation Trim Spending

Updated at 9:48 am EST

US retail sales growth eased again in March, data from the Commerce Department indicated Thursday, as record high gas prices and surging inflation looks to have hit discretionary consumer spending.

March retail sales rose 0.5% from the previous month to a collective $665.7 billion, the Commerce Department said, just shy of the Street consensus forecast of a 0.6% advance. The February total was revised firmly to a gain of 0.8%, the Commerce Department report showed, from the original estimate of a 03% advance.

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