business / news / / CBS News
Two-thirds of respondents to a recent CBS News poll reported feeling financially stressed, while a majority said soaring gasoline prices are causing hardship.
Walmart reports strong sales with high-income shoppers increasing purchases across more categories.
KEY POINTS
- Typical U.S. household fuel costs rose $188 since the Iran war's start, per Brown University researchers.
- Average 2026 IRS tax refunds are 12% higher than last year, temporarily supporting consumer spending.
- Discretionary spending growth now diverges sharply by income, with low-income households cutting back most.
- Rising gas prices inflate retail sales data because fuel purchases are included in topline figures.
COMPANIES
Summarized by Newsio from CBS News. How we summarize →