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AP-National

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

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Published 10:27 AM

By ANNE D’INNOCENZIO
AP Retail Writer

NEW YORK (AP) — Americans unexpectedly paused their spending in April from March as inflation continued to sting and elevated interest rates made taking on debt more burdensome. Retail sales were unchanged, coming in well below economists’ expectations, and the figure followed a revised 0.6% pace in March, according to Commerce Department data released Wednesday. It rose 0.9% in February. That comes after sales fell 1.1% in January, dragged down in part by inclement weather. Excluding gas prices and auto sales, retail sales fell 0.1%.

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