Americans still spending despite soaring inflation
CBSN
Americans kept spending in March even amid higher prices for food, gasoline and other basics, worsened by Russia's escalating war with Ukraine.
Retail sales increased 0.5% after registering a revised 0.8% jump from January to February. Spending has been fueled by wage gains, solid hiring and more money in banking accounts. January's increase of 4.9% was the biggest jump in spending since March 2021, when American households received a final federal stimulus check of $1,400.
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