U.S. Retail Sales Rose 0.9% in April -- Update
By Harriet Torry
U.S. shoppers increased retail spending in April for the fourth
straight month, taking on higher prices with inflation close to its
highest level in four decades.
Retail sales--a measure of spending at stores, online and in
restaurants--rose a seasonally adjusted 0.9% in April from the
prior month, the Commerce Department said Tuesday.
Retail sales aren't adjusted for inflation. That means that
while consumers have continued to spend more, they are likely
getting less due to rapidly rising prices.
In April, consumers spent more at bars and restaurants, on
vehicles, furniture, clothing and electronics. However, they pulled
back on spending at grocery stores, on home improvement and
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(END) Dow Jones Newswires
May 17, 2022 09:08 ET (13:08 GMT)
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