A shopper pushes a child in a cart while browsing big-screen televisions on display in the electronics section of a Costco warehouse, Tuesday, March 29, 2022, in Lone Tree, Colo. U.S. retail sales rose 0.9% in April, a solid increase that underscores Americans’ ability to keep ramping up spending even as inflation persists at nearly a 40-year high. The Commerce Department said Tuesday, May 17, that the increase was driven by greater sales of cars, electronics, and at restaurants. Even adjusting for inflation, which was 0.3% on a monthly basis in April, sales increased.AP Photo/David Zalubowski, File
NEW YORK — Americans cut their spending unexpectedly in May compared with a month before, underscoring how surging inflation on daily necessities like gas is causing them to be more cautious about buying discretionary items.
U.S. retail sales fell 0.3% last month, down from a revised 0.7% increase in April, according to a government report released Wednesday.
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