U.S. inflation eases to 3.5 percent but oil prices surge above $85
On July 15, 2026, U.S. inflation eased as the Consumer Price Index fell to 3.5 percent, down from 4.2 percent. However, oil prices surged above $85 a barrel amid renewed Middle Eastern conflict, signaling potential inflationary pressures ahead. Federal Board chairman Kevin Warsh cautioned against premature optimism regarding inflation trends, emphasizing the need for careful monetary policy.
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Published 15 Jul 2026, 01:50 UTC · Updated 15 Jul 2026, 02:00 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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