Retail sales unexpectedly jump even as high inflation stirs back to life

Americans picked up the pace on spending in March even as they continued to face high interest rates and steeper prices for everyday goods.

Retail sales, a measure of how much consumers spent on a number of everyday goods including cars, food and gasoline, jumped 0.7% in March, the Commerce Department said Monday. That is much higher than the 0.3% increase forecast by LSEG economists.

The March advance is not adjusted for inflation, meaning that consumers may be spending the same but getting less bang for their buck.

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