US Retail Sales Lose Steam

It's Benzinga, bringing Wall Street to Main Street. U.S. retail sales grew at their slowest pace in nearly a year in October as higher prices strained consumers, according to CNBC-NRF retail monitor data. Total retail spending rose 0.2% month-over-month to $561.7 billion, up 3.6% year-over-year. The slowing growth indicated shoppers were becoming more selective as higher prices pressured household budgets. The National Retail Federation said consumers were timing purchases around sales and promotions to stretch their dollars. Halloween shopping and early holiday promotions supported spending. Sales increased year-over-year in 9 of 11 sectors, led by electronics and appliances. Technology companies have raised prices on products including MacBooks and Xboxes as memory chip costs surge amid the AI boom. Meanwhile, consumer prices rose 0.4% in October. Slightly above economists' expectations. For all things money, visit Benzinga.com.