Tyler Schipper, an associate professor of economics and data analytics at the University of St. Thomas, spoke with KCRA about June’s inflation report and the factors that could shape prices in the months ahead. Schipper explained how lower gas prices helped slow inflation but warned that rising energy costs and ongoing global tensions could quickly reverse that trend.
From the story:
Global tensions are adding uncertainty to the outlook. On Tuesday, Iran launched new attacks on regional partners after the U.S. conducted strikes for the fourth consecutive day, driving oil prices significantly higher compared to a week ago.
“The fact that energy prices help bring this headline inflation rate down, that reverses next month, and we could see elevated headline inflation right back in the news,” said Tyler Schipper, an economist at the University of St. Thomas.
Experts warn that higher oil prices could quickly impact gas prices and eventually push up the cost of other goods.
