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Retail sales jump as Americans defy inflation and rate hikes

A shop holds a sidewalk sale during an unseasonably warm day, Friday, Feb. 10, 2023, in Providence, R.I. On Wednesday, the Commerce Department releases U.S. retail sales data for January. (AP Photo/David Goldman)

Heinz Ketchup is displayed at a market in Pittsburgh on Thursday, Jan. 26, 2023. On Wednesday the Commerce Department releases U.S. retail sales data for January. (AP Photo/Gene J. Puskar)

A couple shops for a Volkswagen ID.4 electric vehicle while assisted by a salesman at right, at a new car dealership, Monday, Feb. 6, 2023, in Manchester, N.H. On Wednesday the Commerce Department releases U.S. retail sales data for January. (AP Photo/Charles Krupa)

Shoppers pass an large L.L. Bean boot displayed outside an L.L. Bean store in Pittsburgh on Monday, Jan. 30, 2023. On Wednesday, the Commerce Department releases U.S. retail sales data for January. (AP Photo/Gene J. Puskar)

Retail sales jump as Americans defy inflation and rate hikes