The upcoming week promises to deliver notable updates on inflation, a topic sure to dominate the U.S. midterm elections now less than a month away. A separate report will show how retailers are faring in an inflationary environment, while the nation's biggest banks roll out financials details from the most recent quarter.
The price of oil will be front and center as the U.S. war with Iran drags into its eighth month. Renewed violence has sent oil prices back above $100 per barrel and average gasoline prices remain well above $4 per gallon, while diesel remains just below the record high prices reached in September. That has all fueled inflation, putting more pressure on household budgets and businesses.
