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U.S. Retail Sales Soften as High Gasoline Costs Begin to Bite

  • Value of purchases increased 0.3% in February after 4.9% gain
  • Excluding gas station receipts, retail sales dropped 0.2%
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U.S. Retail Sales Slow as Gas Prices Rise
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Growth in U.S. retail sales slowed in February after surging a month earlier, suggesting that consumers tempered their spending in some categories as inflation limited purchasing power. 

The value of overall retail purchases increased 0.3%, after an upwardly revised 4.9% gain in January, Commerce Department figures showed Wednesday.