Investing.com -- U.S. retail sales increased at a slower-than-anticipated rate on a monthly basis in May, pointing to lingering headwinds to momentum in consumer spending activity despite inflationary pressures showing signs of cooling.

Retail sales rose by 0.1% last month, accelerating from a downwardly-revised decline of 0.2% in April, according to Commerce Department data. Economists had predicted that retail sales would grow by 0.3%.