Retail sales took an unexpected dip in December in what could be a signal that persistently rising inflation is prompting a pullback in consumer spending. Consumers paid more for everything from groceries to cars in 2021 as companies passed along the costs of pricier raw maters and supply chain delays. Retired Ripon College economist Paul Schoofs says pressure from inflation has been building as have concerns that consumers will eventually pull back on spending as they tire of higher prices.
