Economist Warns Strait of Hormuz Shutdown Remains Biggest Inflation Threat Despite June CPI Drop
June's headline CPI dropped to 3.5% year-over-year, driven largely by a decline in oil prices following a U.S.-Iran ceasefire. However, economist Mark Zandi cautions that the biggest threat to disinflation remains a potential shutdown of the Strait of Hormuz, which could rapidly reverse recent gains.
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Topics: CPI report economic threat inflation oil prices