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Study: Gas Prices Hurt Entertainment Spending

31 Aug, 2005 By: Erik Gruenwedel

With the average price of a gallon of regular-grade gasoline reaching a new high of $2.61 for the week ended Aug. 22, a report from the International Council of Shopping Centers said 58 percent of households polled are reducing discretionary spending on non-essential purchases, including entertainment and consumer electronics.

The study reported 23.1 percent of households with total incomes of less than $50,000 reduced spending in August directly as a result of rising gasoline prices.

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