Surging inflation intensifies consumption disparities in the United States, with low-income groups facing greater pressure

```htmlGolden Ten Data reported on May 14 that U.S. April retail sales data shows low-income groups spend a higher proportion on essentials such as gasoline compared to high-income groups. With consumer confidence dropping to a historic low in early May and inflation surpassing wage growth for the first time in three years, the market is concerned that spending may slow significantly this year. Core retail sales, excluding automobiles, gasoline, building materials, and food services, rose 0.5% in April, with March revised up to a 0.8% increase. Consumer spending, which makes up more than two-thirds of the U.S. economy, grew at an annualized rate of 1.6% in the first quarter, slowing from the 1.9% growth in the October to December quarter last year and markedly below the 3.5% growth rate in the third quarter of 2025.```