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Consumer Spending Is Challenged by High Inflation as Retail Sales Fall
- Eight of 13 groups fell, led by furniture, department stores
- Sales at restaurants and bars dropped by most in over a year
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US retail sales fell in February after a surge in the prior month, suggesting consumer spending, while holding up, is getting challenged by high inflation.
The value of overall retail purchases decreased 0.4% after a revised 3.2% advance in January, Commerce Department data showed Wednesday. Excluding gasoline and autos, retail sales were flat. The figures aren’t adjusted for inflation.