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Inflation Drops as Oil Prices Rise | Salt Lake City News
Inflation just took a surprising dip — down 0.4% last month, the biggest monthly drop in four years — with gas, clothes, and used cars all getting cheaper. Core inflation, which excludes food and energy, is still above the Fed’s 2% target, but economists say the underlying trend is cooling. Even as oil prices spike due to U.S. military action in the Middle East and Trump’s new security fees for ships in the Strait of Hormuz, inflation hasn’t surged. Officials are celebrating the drop as proof of successful policies, while the Fed may delay rate hikes — with Chair Kevin Warsh set to testify…
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