April 2026 U.S. Retail Sales: Resilient Spending Amid Inflation Pressures

April CPI rose 0.6% for the month and 3.8% year-over-year, the highest rate since May 2023, driven by higher energy prices. Gasoline prices rose 28% and fuel oil spiked 54% year-over-year, reflecting disruption to global oil supplies from the Iran war.

Yes, notably so — April retail sales advanced 4.9% year-over-year and 4.7% year-to-date, both excluding auto and gas. However, RetailStat cautions the resilience is increasingly uneven, with sentiment surveys trending toward multi-year lows.

Lower and middle-income households are showing signs of strain, turning to credit to cover everyday essentials as inflation erodes their purchasing power faster than wages can keep up.

Furniture, clothing, and department stores were the only negative categories, down 2%, 1.5%, and 3.2% respectively for the month, even as most other categories posted gains.