War-Driven Inflation Hits Two-Year High

The economic toll of the Iran war became starkly evident on Friday as new government data showed inflation reaching its highest level since May 2024.

While 'core' inflation remained relatively stable, the massive oil shock has sent gasoline prices above $4 a gallon, significantly eroding American paychecks.

The Strait of Hormuz blockade remains a critical factor, with shipping traffic at a near standstill despite a temporary ceasefire.

Analysts warn that these inflationary pressures may force the Federal Reserve to delay anticipated interest rate cuts.