Retail sales rise a meager 0.1% in May from April as still high inflation curbs spending
Consumers barely increased spending in May from April as still high inflation and high interest rates curbed spending. Retail sales rose 0.1% in May, below the pace that economists projected, according to the Commerce Department. And April sales were revised downward _ a 0.2% decline from unchanged. Sales rose 0.6% in March and 0.9% in February. That comes after sales fell 1.1% in January, dragged down in part by inclement weather.