Americans are starting to watch their spending more carefully as gasoline prices reach levels not seen since October 2008.
Diane Swonk, chief economist at Mesirow Financial, says Thursday's government report on retail sales indicates that consumers are skipping a restaurant meal or a movie because they have to spend more to drive.
Swonk estimates gasoline prices are affecting the spending habits of more than half of U.S. drivers. According to the Energy Department's Energy Information Administration, the national average for a gallon of regular hit $3.10 on Monday. That's about 37 cents more than a year ago.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.