Retail sales totaled US$757.1 billion in the US in April, up 0.5% from the previous month and 4.9% year-on-year.

That represents a sharp slowdown from March, when spending rose 1.6 percent compared to February numbers. The data is nevertheless in line with market expectations.

The broad index of retail and food sales includes in-store purchases, dining out, gas purchases and more. It is not adjusted for inflation, which accelerated sharply over the period.

This implies that, while Americans spent more, they did not necessarily purchase more goods and services by volume.

US consumers are facing soaring prices at the pump due to the repercussions of the war in the Middle East. Their spending at gas stations increased by nearly 21% compared to last year, Thursday’s data showed.