Retail sales rise 0.6% in August largely due to a spike in gas prices

abcnews.go.com:

Shoppers stepped up their buying modestly as inflation on many items eased, but they still face a host of economic challenges over the next few months

NEW YORK — Americans stepped up retail spending modestly from July to August as the price of gasoline jumped, cutting into budgets as many families send their kids off to school.

Retail sales rose 0.6% in August, compared with a revised 0.5% increase in July, according to a report issued by the Commerce Department on Thursday.

The big rise in gas prices accounted for more than half of the inflation increase recorded in August, the U.S. reported Wednesday.

Excluding gas, retail sales were just up 0.2% for August, according to the report.

Sales at gas stations rose a robust 5.2%, while furniture and home furnishings stores saw a 1% drop in sales. Clothing and accessories stores had a 0.9% gain, likely helped by back-to-school spending. Restaurants saw a 0.3% increase. Grocery stores had a 0.4% sales increase. Online sales were unchanged in August, perhaps hurt by robust spending during the Amazon Prime day sales event in July.

The uptick in retail sales reflects the economy’s resiliency despite a still tough economic environment. Yet spending has been volatile this year after surging nearly 3% in January. Sales tumbled in February and March before recovering in the spring and summer.

The most recent quarterly financial reports from retailers like Macy’s and Target showed that Americans remain cautious as higher interest rates make cars, homes or using credit cards more expensive.

Inflation jumped last month largely because of the spike in gas prices but other costs rose more slowly, suggesting price pressures are easing at a gradual pace.

In a set of conflicting data