US consumer spending growth slows amid rocketing prices 

US consumer prices are rising at the fastest rate in almost 40 years

The softer-than-expected report may also reflect the pulling forward of holiday period sales as many Americans, aware of supply-chain slowdowns, shopped earlier than usual.

US retail sales rose by less than forecast in November, suggesting that consumers are tempering purchases against a backdrop of the fastest inflation in decades.

The value of overall retail purchases increased 0.3%, the smallest advance in four months after a revised 1.8% gain in October, US Commerce Department figures showed. Excluding gas and motor vehicles, sales climbed 0.2% in November.