WASHINGTON: Rising costs for gasoline caused US retail sales to grow in February, according to government data released on Wednesday , though the expansion was slightly below expectations.
Much of February's spending increase was caused by business at gas stations, where sales rose 5.3 per cent, the biggest gain in any category."The current surge in non-discretionary inflation - particularly food, energy and shelter - will pressure households' budgets and lead them to pare back their discretionary purchases, while supply-chain issues will continue to constrain sales growth," Lydia Bossour of Oxford Economics said.
Several sectors saw business slow, including non-store retailers like e-commerce outlets, where sales fell 3.7 per cent, health and personal care stores, with a decline of 1.8 per cent, as well as furniture stores and grocery stores.
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