U.S. retail sales slow, huge savings likely to provide a cushion against inflation

WASHINGTON, March 16 (Reuters) – U.S. retail sales increased moderately in February as more expensive gasoline and food forced households to cut back spending on other goods like furniture, electronics and appliances, which could restrain economic growth this quarter.

The report from the Commerce Department on Wednesday, however, showed the rebound in sales in January was much stronger than initially estimated. Record gasoline and high food prices are hitting lower-income households the hardest. Read more at Reuters.