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Imports at the nation’s major retail container ports set a new record this spring and are expected to see near-record volume this month as retailers bring in merchandise ahead of rising costs and further supply chain issues, according to the monthly Global Port Tracker report from NRF and Hackett Associates.

NRF and a group of small retailers told Congress small businesses are the hardest hit by high credit card “swipe” fees that are driving up inflation and that they want to see more competition in the payments market.

The economy’s fast-paced growth could slow somewhat as the Federal Reserve tries to bring inflation under control in the next few months, but consumers are likely to keep on shopping as lower inflation eases uncertainty, NRF Chief Economist Jack Kleinhenz says.

NRF said a Senate Finance Committee hearing will give Congress an opportunity to closely examine anticompetitive practices that are adding to inflation through billions of dollars in “swipe” fees charged to process credit card transactions.

Mother’s Day spending is expected to total $31.7 billion this year, up $3.6 billion from 2021’s record spending, according to the annual consumer survey released by the National Retail Federation and Prosper Insights & Analytics.

NRF urged Visa and Mastercard to cancel credit card swipe fee increases scheduled to take effect this month, citing a letter from both Republican and Democratic members of Congress saying higher fees would add to inflation.

The seventh annual NRF Foundation Honors took place April 13 at the Marriott Marquis Times Square to recognize the exceptional leadership of retail executives and to support the next generation of industry talent. The event raised $3.22 million to fund the NRF Foundation’s programs and resources that connect people to life-changing careers in retail.

Retail sales grew in March even as inflation edged higher, NRF said.

Four executives were named members of the NRF Foundation Board of Directors during its meeting on April 13.

The nation’s major retail container ports have begun to catch up with the backlog of cargo seen over the past several months, but could experience another surge this summer, according to the monthly Global Port Tracker report from NRF and Hackett Associates.