Consumers spent broadly at the start of the year, with higher prices eroding some spending power but demand strong
U.S. shoppers boosted spending at the start of the year as the Omicron wave of Covid-19 started to recede and inflation reached a four-decade high.
Retail sales, a measure of spending at stores, online and in restaurants, rose by a seasonally adjusted 3.8% in January from the prior month, the Commerce Department said Wednesday.
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