Shoppers Rein in April Spending as Iran War-driven Gas Prices Squeeze Budgets
Shoppers pulled back on spending in April as higher gas prices fueled by the Iran war meant less money left over for nonessential goods
NEW YORK (AP) — Shoppers pulled back on spending in April as higher gas prices fueled by the Iran war meant less money left over for nonessential goods.
Retail sales rose 0.5% in April, a slowdown from the revised 1.6% in March, according to Commerce Department data released Thursday. March marked the largest one-month increase in retail spending in more than three years, largely because gas prices spiked higher rapidly.
Excluding gas prices, retail sales were up 0.3% in April.
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Elsewhere in some areas, shoppers had tepid spending.
Sales at department stores fell 3.2%, while sales at furniture and home furnishings stores slipped 2%. Online retailers saw a 1.1% increase.
The snapshot offers only a partial look at consumer spending and doesn’t include things like travel and hotel stays. The lone services category – restaurants – registered a 0.6% increase.
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(The above story first appeared on LatestLY on May 14, 2026 06:10 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
