Retail sales jump 3% in January, smashing expectations despite inflation increase

Sales at retailers rose far more than expected in January as consumers persevered despite rising inflation pressures.

for the month increased 3%, compared with expectations for a rise of 1.9%, the Commerce Department reported Wednesday. Excluding autos, sales rose 2.3%, according to the report, which is not adjusted for inflation. The ex-autos estimate was for a gain of 0.9%.

Food services and drinking places surged 7.2% to…