U.S. Inflation Problems Are Far from Over

“If a preliminary deal to end the war with Iran holds, the worst of the inflation surge that has followed in its wake could soon be over. Oil prices have dropped significantly since the announcement of a truce this month. Gasoline costs have, in turn, begun to fall, and airfares and shipping fees are poised to follow,” the New York Times reports.

“But despite this reprieve, the U.S. inflation problem is far from fixed. Measures of underlying inflation were already showing little progress before the war began several months ago. The trend has only worsened as the fighting and other forces, like the boom in artificial intelligence, have stoked prices.”