
How Americans Are Making Room in Their Budgets for Higher Prices
- Investopedia
Gasoline prices have risen sharply in 2026 due to the conflict in Iran, driving inflation to levels last seen in 2022. Consumers are cutting back on services like dining and travel, but continue to spend on retail, supported by higher tax refunds. Persistent inflation could weaken consumer spending later in 2026, especially for lower-income households.

