(Adds dropped letter in penultimate paragraph) By Herbert Lash NEW YORK, May 14 (Reuters) - Treasury yields slid on Friday after U.S. retail sales unexpectedly stalled in April as the boost from government stimulus checks faded and bond investors heeded the Federal Reserve"s view that a jump in inflation will be temporary. The yield on benchmark 10-year U.S. Treasury notes fell 4 basis points to 1.628%. The unchanged reading in retail sales last month followed a 10.7% surge in March, an upward revision from the previously reported 9.7% increase, the Commerce Department said. The jump in the consumer price index on Wednesday put investors on alert that inflation could rise beyond the Fed"s projections and force the U.S. central bank to boost interest rates sooner that policymakers have indicated. The weak retail sales curbed long-term fears of inflation, despite a solid increase in U.S. import prices in April that Labor Department data on Friday showed. "What you"re seeing here is the validation of the Fed"s interpretation that any demand side pull in prices will be temporary because the demand will fall off as the checks wind down," said Steven Ricchiuto, U.S. chief economist at Mizuho Securities LLC. "The bond market, on a very bad inflation number, couldn"t push above the range and probably is not going to be able to," he said. Part of the jump in year-over-year consumer price data reflected a comparison with weak readings a year ago during the economic downturn caused by the pandemic. Fed policy is in a good place at the moment, Cleveland Fed President Loretta Mester said on Friday, while playing down economic signals from data that she warned will be volatile as the economy reopens, Bloomberg News reported. The yield on the 30-year Treasury bond was down 3.4 basis points to 2.353%. The breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) was last unchanged from Thursday"s close of 2.648%, near its highest close in just over a decade. The 10-year TIPS breakeven rate was last at 2.52%, indicating the market sees inflation averaging 2.5% a year for the next decade. May 14 Friday 9:56AM New York / 1356 GMT Price Current Net Yield % Change (bps) Three-month bills 0.0125 0.0127 0.000 Six-month bills 0.03 0.0304 0.000 Two-year note 99-242/256 0.153 -0.006 Three-year note 99-198/256 0.3261 -0.013 Five-year note 99-186/256 0.8064 -0.031 Seven-year note 99-212/256 1.2759 -0.035 10-year note 99-240/256 1.6318 -0.036 20-year bond 94-12/256 2.2499 -0.021 30-year bond 100-112/256 2.3546 -0.032 DOLLAR SWAP SPREADS Last (bps) Net Change (bps) U.S. 2-year dollar swap 10.00 0.00 spread U.S. 3-year dollar swap 11.00 -0.25 spread U.S. 5-year dollar swap 7.75 0.00 spread U.S. 10-year dollar swap -5.00 0.75 spread U.S. 30-year dollar swap -33.50 0.75 spread (Reporting by Chuck Mikolajczak; editing by Barbara Lewis) Our Standards: The Thomson Reuters Trust Principles.