Americans spent less time at the mall during October, affirming expectations that the uncertain economic environment will likely impact consumer spending habits ahead of the holiday season.

According to a report from the Commerce Department, retail sales grew by 0.2 percent during the month after climbing by 0.7 percent in September. The October figure matched expectations.

The data confirms that rising gasoline prices, declining home values, and weak credit markets are beginning to weigh on consumers' minds. The news shouldn't be a surprise for retailers. Indeed, the outplacement consultancy Challenger, Gray & Christmas reported recently that retailers added fewer new jobs in October than they have in many years—even fewer than in October of 2001.

Separately, the Labor Department reported this morning that wholesale prices rose by 0.1 percent during October, which was slightly less than forecast. The core producer price index, which excludes food and energy costs, was unchanged. Economists expected a gain of 0.2 percent in both indexes.