By Gwynn Guilford and Sarah NassauerAmericans increased retail spending modestly in April as easing inflation returned some purchasing power to shoppers. Retail sales increased 1.6% in April from a year earlier, the department said. The year-over-year increase was below the 4.9% inflation rate for the same period. Retail sales aren't adjusted for inflation and reflect price differences as well as purchase amounts. Tepid retail sales come as the Federal Reserve increased interest rates to fight inflation by slowing the economy.

Source: Wall Street Journal May 16, 2023 13:29 UTC