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Fortune
Fortune
Jason Ma

There's no escape from inflation as a perfect storm of the 'Godzilla' El Niño, AI boom, Trump tariffs, fuel crunch, and Ukraine war keep prices high

(Credit: Chris McGrath/Getty Images)

Oil prices have retreated as the U.S.-Iran war recedes, despite occasional skirmishes, but inflationary trends will continue to apply pressure from all sides.

That will keep Wall Street on high alert for rate hikes from the Federal Reserve, with policymakers growing impatient after five years of inflation exceeding their 2% target.

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