Retail sales unchanged in June from May as inflation moderates

Shoppers paused their spending June from May as they deal with moderating inflation but still high interest rates that have made buying anything on credit more expensive. Retail sales were unchanged in June from May, which was better than economists expected, after being revised at up -0.3% in May, according to the Commerce Department. Last month, April sales were revised downward — a 0.2% decline, from unchanged. Sales rose 0.6% in March and 0.9% in February. That comes after sales fell 1.1% in January, dragged down in part by inclement weather. Excluding gas prices and auto sales, retail sales rose 0.8%.