ABC News: US retail spending slows as inflation starts to bite

ABC News: US retail spending slows as inflation starts to bite. “Retail sales increased 0.3% after registering a revised 4.9% jump from December to January, fueled by wage gains, solid hiring and more money in banking accounts, according to the Commerce Department. January’s increase was the biggest jump in spending since last March, when American households received a final federal stimulus check of $1,400.”

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