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April 22, 2026

Gas prices drive up March retail sales

NEW YORK (AP) — Shoppers accelerated their spending in March from February, but they spent a good chunk of their money at the gas pump.

A spike in gas prices due to the Iran war, now in its eighth week, resulted in a hefty 1.7% gain in retail sales in March after a revised 0.7% increase in February, according to the Commerce Department's report on Tuesday. The figure marked the fastest one-month increase in retail sales in more than three years.


 
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