A number of U.S. media outlets on Wednesday pointed out that rising energy prices triggered by U.S. and Israeli military operations against Iran constitute the primary reason for the difficulty in lowering U.S. inflation.
According to data released by the U.S. Bureau of Labor Statistics (BLS) on Wednesday, the U.S. consumer price index (CPI) rose 3.4 percent year on year in July, slightly lower than 3.5 percent in June.
The headline inflation indicator increased by 0.1 percent month on month in July, underlining the short-term impacts of lower oil prices in June.
Energy prices, a primary driver of inflation pressures this year, have recently moved higher amid ongoing geopolitical tensions. In July, gasoline prices declined 2.9 percent, while the price of electricity edged up 0.1 percent, according to the BLS report.
The U.S. and Israeli attacks on Iran in late February disrupted the global oil market and also led to continued high inflation in the United States, The Washington Post reported on Wednesday.
Although current energy prices in the U.S. have dropped compared with their peak this year, they are still higher than those of the same period last year, according to the report.
It also noted that the inflation, which is persistently higher than the Federal Reserve's 2 percent annual target, is expected to complicate November's midterm elections.
An NBC report said Wednesday that "energy prices, which are the primary cause of inflation's spike this year, have moved higher as the war with Iran shows no sign of ending soon".
As the inflation remains above the rate of wage growth, the report, citing economist Heather Long, said that for middle-income and lower-income Americans, "there will likely be some belt-tightening ahead".
US-Israeli military operations against Iran leaves inflation high: media
