WP reported the highest inflation rate in the United States in three years

Inflation in the United States has exceeded 4% for the first time in three years amid the US-Israeli war against Iran. This was reported by The Washington Post (WP) on June 10.

According to the publication, the consumer price index rose by 4.2% in the year ended in May, compared with 3.8% in the year to April 2026. Most of the monthly growth was again attributed to higher energy prices. Gasoline prices, which have increased by about 50% since January due to the conflict with Iran, which disrupts oil supplies through the Strait of Hormuz, increased by 7% in May.

White House officials tried to minimize the damage, arguing that the sharp rise in inflation is a temporary phenomenon related to the conflict in Iran, which will disappear after the end of hostilities. But as the conflict in Iran "escalates and no resolution is expected," energy prices will continue to rise, the authors of the article noted.

The publication writes that base prices, which exclude volatile food and energy prices, increased by 2.9% over the year. Service sector inflation, which includes housing costs and is independent of duties on goods and energy prices, also exceeded 3%.

According to the newspaper's estimates, the overall inflation rate exceeded 4% for the first time since May 2023, a period during which prices declined from a peak above 9% reached during the COVID—19 pandemic and was the highest in almost 40 years.

Economists fear that another spike in inflation will eventually convince Americans that high prices are just a more stable feature of the economy, the article says.

"We believe that it will grow slowly towards 4.5%, as higher prices for energy, transport and food products have an impact on the economy," said Joe Brusuelas, the newspaper's interlocutor and chief economist at the American auditing company RSM.

The publication emphasizes that the world is facing the largest oil and gas supply disruptions in history amid restrictions on navigation in the Strait of Hormuz due to the war between the United States and Israel against Iran. It is clarified that the crisis is most acutely felt in Europe and Asia, where prolonged supply disruptions are predicted, and therefore the governments of a number of countries are forced to take measures aimed at combating energy shortages.

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Bloomberg reported on May 22 that the closure of the Strait of Hormuz until August could lead to an increased risk of an economic downturn comparable in scale to the 2008 crisis. The agency added that if the strait remains closed after July, an even stronger reduction in demand will be required to compensate for the supply shortage.

German political scientist Claudia Mayor said on May 8 that the conflict in the Middle East has become an economic disaster for most of Europe. The expert noted that the complete closure of the Strait of Hormuz, through which almost 20% of oil and gas exports were carried out, led to an increase in fuel prices, inflation and a slowdown in economic growth.