War and Price

Inflation hit a three-year high in May.

The Consumer Price Index reached 4.2%—up from 3.8% in April—as an energy price surge from the Iran war rattled household budgets. A silver lining: month-over-month increases slowed, and gas prices have decreased in early June.

Lasting relief likely hinges on a durable peace deal with Tehran and restored oil tanker traffic through the Strait of Hormuz—a tall order. Even then, Wall Street analysts warn traffic may only recover to 60-70% of prewar volumes if Iran retains control of the waterway.

“I love the inflation,” President Trump told reporters Wednesday—crediting the fall of oil prices to a clandestine operation he said moved 100 million barrels of oil through the Strait under the cover of darkness. Critics point out that the war has cost American households ~$3,100+ each.

Verse to consider when your bank statement sends you spiraling… 
“Though the fig tree does not bud and there is no fruit on the vines, though the olive crop fails and the fields produce no food… yet I will celebrate in the Lord; I will rejoice in the God of my salvation! The Lord my Lord is my strength; he makes my feet like those of a deer and enables me to walk on mountain heights!”
Habakkuk 3:17-19 (CSB) (read full passage)