Closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, were unchanged in May after rising by 0.5 percent in April. "By some measures, consumers are the gloomiest they've ever been but it doesn't mean they will stop spending," said Lydia Boussour, Lead U.S. She added, "With inflation reaching new heights and prices at the pump soaring, consumers will likely continue to reshuffle their spending priorities and allocate more of their budget toward services and pricier necessities such as gas, food and shelter."