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STORY: U.S. retail sales increased more than expected in March amid a surge in receipts at online retailers, further evidence that the economy ended the first quarter on solid ground.

The report from the Commerce Department on Monday, which followed news this month of robust employment gains in March and a pick-up in consumer inflation, bolstered expectations that the Federal Reserve could delay cutting interest rates until September. Some economists see the window for lowering rates this year closing.

Willmering says although the retail sales figures were surprising, "when you look under the hood" consumers are spending in some areas and they are cutting back on "some of those bigger ticket items."

"With the advent of rates looking like they are higher for longer, maybe this will slow some of those inflationary numbers in the data," she added.