Iran War Fuels Inflation Fears
February CPI held steady at 2.4% reported, but the war with Iran is expected to spike oil prices and raise inflation in March warned.
The energy sector is bracing for impact, as Brent Crude futures have already jumped 8% since the conflict began last week. San Antonio businesses reliant on trucking and air freight should prepare for higher fuel surcharges. Economists predict a potential ripple effect, with food prices also climbing due to increased transportation costs. Texas consumers could see higher grocery bills within the next few weeks. The Federal Reserve may now delay planned interest rate cuts to combat rising inflation. This could further dampen economic growth in San Antonio and the state.
