Retail Sales Up 0.3% In August From July Amid Inflation

Consumer spending accounts for nearly 70% of U.S. economic activity.

Americans picked up their spending a bit in August from July even as surging inflation on household necessities like rent and food took a toll on family budgets.

U.S. retail sales rose an unexpected 0.3% last month after falling 0.4% in July, the Commerce Department said Thursday. Excluding business at gas stations, sales rose 0.8%.

Sales at grocery stores rose 0.5% , helped by rising prices in food.