Americans pulled back on spending at retail stores in June, even as inflation showed welcome signs of slowing down. 

Retail sales, a measure of how much consumers spent on a number of everyday goods, including cars, food and gasoline, rose just 0.2% in June, the Commerce Department said Tuesday. That is below both the 0.5% increase projected by Refinitiv economists and the 0.3% gain recorded in May.

The figures are not adjusted for inflation. 

"The current picture on the consumer is a bit blurry," said Jeffrey Roach, chief economist at LPL Financial. "It seems that excess savings buoyed retail activity in recent months but consumers are quickly depleting those excess reserves and starting to use credit to support spending habits."

This is a developing story. Please check back for updates.