00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Retail sales rose 0.5% in April after increasing 1.6% in March,
00:08according to Commerce Department data released Thursday, according to PBS News.
00:13Excluding gas sales, retail sales increased 0.3% after rising 0.7% in March.
00:21Department store sales fell 3.2% and furniture and home furnishing sales dropped 2%.
00:27Online retailer sales rose 1.1% and electronics and appliance store sales increased 1.4%.
00:35Restaurant sales rose 0.6%.
00:38The Iran War and the shutdown of the Strait of Hormuz pushed the average price of regular gasoline
00:44to $4.53 per gallon Thursday, up $1.35 from a year ago, according to Eid Aliye.
00:51Economists expected larger tax refunds to boost consumer spending,
00:55but rising gas prices since the start of the Iran War have reduced discretionary spending
01:00on items like dining out and clothing.
01:03The Labor Department reported producer prices rose 1.4% in April,
01:08and consumer prices increased 3.8% year over year.
01:12For all things money, visit Benzinga.com.
01:15So, let's go.
01:15So, let's take a look.
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