Walmart warns US shoppers are cutting spending as higher petrol prices bite - BBC

Walmart told investors that rising petrol prices are already causing US shoppers to cut back and that the retailer expects further pullback in coming months. Executives warned a prolonged closure of the Strait of Hormuz could raise costs for fertiliser and other inputs, potentially forcing food-price increases. The retail warning reinforces broader analyses that an energy shock would spike fuel costs, squeeze household budgets and depress consumer spending.