US Retail Sales Jump in March Amid Record Gas Price Surge Linked to Iran War

54 articles · Updated · Reuters · Apr 21

US retail sales surged by 1.7% in March, marking the fastest monthly rise in over three years, driven primarily by soaring gas prices.
The spike in gas prices, caused by the Iran war and Strait of Hormuz closure, led to a 15.5% jump in gas station sales.
Excluding gas, retail sales rose a modest 0.6%, as rising costs and inflation begin to affect broader consumer spending and sentiment.

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