Retail Sales Growth Slows as Consumers Grapple with Inflation

• February retail sales rose 0.6%, but growth was weaker than expected and January's decline was revised lower, suggesting consumer caution • Sales lifted by higher gas prices, auto sales, building materials; sales at department stores, clothing stores fell
• Government retail data not adjusted for inflation, which ticked up 0.4% from January to February • Report shows ongoing spending shift from goods to services; restaurant sales rose 0.4% • Jobs and wages fueling spending but it's become choppy due to higher interest rates and prices; consumers looking for deals and sticking to necessities