US consumer sentiment and retail sales rise as gasoline prices dip below $4
Gasoline prices fell below $4 per gallon for the first time since March, giving shoppers relief and prompting a 0.9% rise in May retail sales, beating forecasts. The drop in fuel costs also helped improve the University of Michigan's consumer sentiment index, lifting it from a May low. Analysts note the rebound is fragile: higher inflation, the Iran‑Israel conflict and lingering supply concerns keep overall sentiment subdued. While some officials, like Trump adviser Kevin Hassett, point to increased spending as optimism, others warn that retailers still face pressure from lingering price volatility and uneven price cuts from major oil firms.
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