Retail Sales Drop More Than Expected in January as Shoppers Pull Back Under Inflation Pressures

Retail sales fell 0.8% in January, more than expected, after strong holiday season
Decline was widespread, with sales down in 9 of 13 categories, showing shoppers buckling under higher rates
Drop could be positive sign for Fed that economy is cooling and inflation pressures easing
Household spending still supported by strong jobs market, but sales weakness signals economic momentum fading
Retailers like Walmart and Macy's reporting earnings soon, early signs from food companies show some trading down