Retail sales were unchanged in April from March as inflation and interest rates curb spending

FILE - A customer checks out of a Walmart store Wednesday, Feb. 21, 2024, in Englewood, Colo. On Wednesday, May 15, 2024, the Commerce Department releases U.S. retail sales data for April. –

The data offers only a partial look at consumer spending because it excludes things like travel and lodging. However at restaurants, the lone service category tracked in the monthly retail sales report, sales rose 0.2% from March. Prices rose 0.3% from March to April, the Labor Department said Wednesday, down slightly from 0.4% the previous month. Measured year-over-year, inflation ticked down from 3.5% to 3.4%. And a measure of underlying inflation, which excludes volatile food and energy costs, also eased in April.

Source: Loan Digest (loandigest.net)

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