December retail sales fall 1.1% as inflation takes a toll

Associated Press

01/18/2023

Retail Sales — Irene Schaefer, of Johnson Creek, Wis., shops for hats at Longhorn Saddlery in Dubuque, Iowa. . Retail sales fell 1.1% in December, following a revised 1% drop in November, the Commerce Department reported Wednesday. In October, retail sales ticked up 1.3%, helped by early holiday shopping. / ASSOCIATED PRESS / JESSICA REILLY

NEW YORK (AP) – Americans cut back on spending in December, the second consecutive month they've done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season. Retail sales fell a worse-than-expected 1.1% in December, following a revised 1% drop in November, the Commerce…

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