Inflation Angst Spreads as Rising Gas Bills Spook Consumers (1)

Summer is shaping up to be bleak for the US consumer.

Americans have been struggling for months with high gas prices and persistent inflation and consumer sentiment has hita record low. The boost some got from tax refunds is fading. Now retailers including Walmart Inc. and Lowe’s Cos. are warning that fuel costs driven by the Iran war may begin to show up in prices of products on their shelves.

When? It’s tough to predict, according to Home Depot Inc.’s chief financial officer, Richard McPhail. “There’s a lot that is changing every day,” he said in ...