Retail sales rose 0.5% in March amid inflation jump; import prices hit 11-year high

Consumers continued to spend in March even as inflation rose to its highest level since late 1981, according to government data released Thursday.

Retail sales climbed 0.5% from the previous month, slightly less than the 0.6% Dow Jones estimate and a deceleration from the upwardly revised 0.8% gain in February.

The move came with inflation rising 1.2% for the month as measured by the consumer price index.

Retail sales data is not adjusted for inflation. Consequently, the biggest gain in sales for the month game at gas stations, which saw an…