U.S. inflation may climb to its highest level since September 2023 if current oil prices persist, according to an analysis by The Kobeissi Letter. With U.S. oil prices nearing $120 per barrel, the model predicts that if this price level is maintained for three months, the Consumer Price Index (CPI) inflation could rise to approximately 3.7%. This potential increase underscores the impact of sustained high energy costs on the broader economy.
U.S. Inflation Could Hit September 2023 High if Oil Prices Stay Elevated
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