Inflation dropped to 3.5%, but Iran tensions might ruin the party
We finally got some good news on prices for five minutes, but global chaos had other plans.
Annual inflation pulled back to 3.5% in June, stepping down from May's agonizing three-year high. Prices finally stopped sprinting, giving everyone a tiny breather.
Then the Middle East re-entered the chat. The renewed conflict with Iran is already threatening to push energy costs back through the roof, wiping out those fragile gains before anyone even noticed them.
Apparently, the reward for surviving bad economic news is getting immediately hit with a fresh batch of geopolitical chaos.
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