This week, the United States will release two key inflation reports: the Producer Price Index on Thursday and the Consumer Price Index on Friday. Inflation remains above 3% and is outpacing wage growth, putting strain on households and businesses. Rising energy prices linked to the U.S.-Iran conflict, which has disrupted shipping through the Strait of Hormuz through which approximately 20% of the world’s oil supply flowed, are fueling this inflationary trend. The Fed is holding its benchmark interest rate steady, but Wall Street expects at least one rate hike this year to bring inflation back toward its 2% target.
Source: Read the original article
