U.S. retail sales rose 0.5% in March this year from the previous month, according to Data of the National Retail Federation (NRF).

The figures, based on data from the US Census Bureau, showed retail sales during the month rose 6.9% year-on-year (YoY).

Retail sales, excluding car dealerships, gas stations and restaurants, were unchanged seasonally adjusted from February and rose 4% year-on-year unadjusted.

During the month, sales at clothing and clothing accessories stores rose 2.6% seasonally adjusted from the previous month and 7.5% unadjusted year-over-year.

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Sales at grocery and beverage stores also rose 1% month-over-month seasonally adjusted and 7.9% year-over-year unadjusted.

General merchandise stores rose 5.4% month-over-month seasonally adjusted and 3.9% year-over-year unadjusted.

Online and non-store sales rose 2.6% unadjusted year-over-year in the month, but fell 6.4% month-over-month seasonally adjusted.

NRF Chief Economist Jack Kleinhenz said: “While prices soared in March and eroded purchasing power, buyers remained resilient and sales were healthy. Consumers have the willingness and ability to spend has been supported by rapid hiring, higher wages, larger than usual tax refunds, and reliance on credit.

“They are largely facing the gas price shock, but will face higher interest rates as the Federal Reserve tightens monetary policy in the months ahead. The challenge for the Fed is to calm demand without pushing the economy into a dramatic slowdown.

In a separate development, NRF raised $3.22 million at its seventh NRF Foundation Honors event, which will support NRF Foundation programs and resources in the retail sector.