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Walmart warns US shoppers are cutting spending as higher gas prices bite
Key takeaways
- Archie Mitchell Business reporter Getty Images Walmart has warned higher gas prices are causing US consumers to cut spending elsewhere as the war with Iran continues to squeeze household budgets.
- The retail giant expects its sales growth between May and July to slow significantly from the previous three months, with higher prices at the pump to blame.
- The conflict in the Middle East has led to a surge in wholesale oil prices, in turn pushing up the price of gasoline for Americans.
Why this matters: an international story with cross-border implications worth tracking.
Archie Mitchell Business reporter Getty Images Walmart has warned higher gas prices are causing US consumers to cut spending elsewhere as the war with Iran continues to squeeze household budgets.
The retail giant expects its sales growth between May and July to slow significantly from the previous three months, with higher prices at the pump to blame.
The conflict in the Middle East has led to a surge in wholesale oil prices, in turn pushing up the price of gasoline for Americans.
Article preview — originally published by BBC World. Full story at the source.
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