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Retail sales rose less than expected in May

Washington CNN  —  Sales at US retailers rose last month at an unexpectedly weak pace as US consumers continue to deal with still-high inflation and elevated interest rates. Retail sales rose 0.1% in May from the prior month, the Commerce Department reported Tuesday. That’s higher than April’s downwardly revised 0.2% decline and below the 0.3% gain economists projected in a FactSet poll. The figures are adjusted for seasonal swings but not inflation. Retail sales have increased four times over the past six months through May.