Falling gas prices likely reduced inflation last month, but Iran war renewal could reverse progress

Inflation likely decreased in June, with consumer prices expected to fall 0.2%, marking the first monthly decline in nearly four years. Gas prices declined initially but have rebounded due to renewed conflict in the Middle East, which also pushed oil prices higher. Despite recent improvements, inflation remains above pre-Iran war levels, and experts warn that persistent inflation could lead the Federal Reserve to consider raising interest rates again.

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