Retail Sales Dropped 2% in May Thanks to Falling Gas Prices
U.S. retail sales declined in April and May, pulled down by a sharp drop in gas prices. But even after excluding volatile gas sales, consumers barely increased their spending.
U.S. retail sales declined in April and May, pulled down by a sharp drop in gas prices. But even after excluding volatile gas sales, consumers barely increased their spending.
U.S. consumer prices were flat last month as cheaper gas offset modest increases for food, clothing and housing. The data indicate that inflation remains in check.
Crude oil futures have taken a hit lately, delivering an 8.6% slide to speculators over the past five trading days. On Tuesday, June crude settled at a three-month low.


