U.S. retailers buffeted by gas prices

Published: June 17, 2008 at 8:28 AM

WASHINGTON, June 17 (UPI) -- Retail sales in the United States gained marginally on the week ending June 14, the International Council of Shopping Centers-USB reported Tuesday.

Shopping rose 0.2 percent on the week but gained 2.1 percent from a year ago, the report said.

"Although sales inched up a tad ... consumers continue to face a strong headwind from record high gasoline costs," the report said.

The retail group noted their monthly consumer gasoline-price impact survey indicated discretionary spending on non-essential items had been reduced by 69 percent of households, the highest percentage since they began tracking the figure in 2004.

Gasoline prices averaged $4.082 June 16, up 35.7 percent from a year ago. It was the 12th consecutive week of record gasoline prices, the ICSC report said.

© 2008 United Press International, Inc. All Rights Reserved.
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