Retail sales jumped 0.7% in March, much higher than expected

Rising inflation in March didn’t deter consumers, who continued shopping at a more rapid pace than anticipated, the Commerce Department reported Monday.

Retail sales increased 0.7% for the month, considerably faster than the Dow Jones consensus forecast for a 0.3% rise though below the upwardly revised 0.9% in February, according to

that is adjusted for seasonality but not for inflation.

The consumer price index increased…