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Falling gas prices likely cut inflation last month but renewal of Iran war could undo progress
Falling gas prices likely reduced inflation last month, offering consumers relief, but renewed conflict with Iran has caused oil prices to rise again. The potential for increased oil prices from the Iran situation threatens to reverse recent inflationary improvements.
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Adjacent reporting
- Falling gas prices likely cut inflation last month but renewal of Iran war could undo progress
- Oil Holds Gains as Iran Stokes Inflation Worries: Markets Wrap
- May inflation is expected to have jumped as the Iran war sent prices higher
- Inflation from Iran war likely to keep consumer prices high even after conflict eases
- Oil prices rise as the U.S. and Iran fight over control of Strait of Hormuz
- Apple’s price hikes suggest inflation won’t slow quickly, even as gas gets cheaper