U.S. retail sales rose 0.3 percent in February, but at a slower pace than expected, as inflation seemed to impact consumer spending, according to a Commerce Department report on March 16. Economists had previously estimated that consumer spending would hit 0.4 percent, but rising gasoline and food prices have forced many households to cut back spending on goods like furniture, electronics, and appliances, which could restrain economic growth in the first quarter. “The 36 percent year-over-year gain in gasoline sales and the 8 percent year-over-year increase at grocery stores can be attributed exclusively to inflation,” said Ted Rossman, Senior Industry Analyst at Bankrate. “People are spending more in these categories, but they’re not getting more value,” he said. Retail spending was up 17.6 percent compared with the same time last year, as fears of the Omicron variant faded, said the Commerce Department. Retail sales are mostly made up of goods and are …