Gas prices have surged past $4 per gallon, while tomato and beef prices hit new records amid the ongoing Iran war. Home Depot reported a profit decline but beat Wall Street expectations in the first quarter.
The housing market remains stagnant, with existing home sales flat in April. Consumer caution is rising as inflation reaches 3.8%.
- Gasoline prices are up more than 28% year-over-year. - Tomato and beef prices have reached all-time highs.
- Home Depot's revenue climbed to $41.77 billion, exceeding forecasts. - Existing home sales edged up just 0.2% in April.
The combination of rising costs and a sluggish housing market continues to pressure American households.