US consumers keep spending despite higher gas prices, but how long can it last?

US consumers continue spending despite high gas prices intensifying inflation, with new data Thursday showing both accelerated price increases and resilient retail sales that are powering economic growth for now. Wholesale prices jumped 6.3% in September from a year earlier, the biggest gain in nearly four years, driven by a 20% monthly rise in gas prices that lifted shipping and food costs. Retail sales rose 0.8% from August, beating forecasts, while unemployment claims stayed below 200,000. Economists warn inflation may erode spending power, as inflation-adjusted paychecks declined in September, and the Federal Reserve likely will raise interest rates again this year, potentially increasing borrowing costs for mortgages, car loans, and credit cards.