
Consumers pull back spending due to high gas and food prices
CNN
The high cost of gas and food is causing US consumers to pull back spending on other items, suggesting a slowdown in the economy's main driving force.
The monthly reading on retail sales showed a 0.3% drop in May compared with April, the first decline in spending since December. More concerning is the details about where consumers are — and are not — spending money.
Spending at gas stations rose 4% in May from April, and is up 43.2% compared with a year ago, driven by sharply higher gasoline prices.

Maria Corina Machado, the Venezuelan opposition leader and 2025 Nobel Peace Prize winner, arrives in Washington this week for high-stakes talks with US President Donald Trump on the future of Venezuela following the ouster of Nicolás Maduro. The meeting comes after Trump surprised many by allowing Maduro’s vice president, Delcy Rodríguez, to assume control, dashing opposition hopes for a new democratic era.

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