US wholesale prices rise as US-Israeli war on Iran and Tehran's Hormuz chokehold spike oil costs

Wholesale prices in the US surged due to the ongoing US-Israeli war on Iran and Tehran’s blockade of the Strait of Hormuz, driven primarily by a spike in energy costs. This increase is likely to impact the US Federal Reserve’s efforts to combat inflation, and President Trump defended his policies, stating that economic concerns were not a factor in his Iran strategy.