Inflation Pressure Index — July 2026: 36.2

The Inflation Pressure Index recorded an average reading of 36.2 for July, reaching its lowest level of 29 on July 2 and peaking at 44 on July 23. Pressure was initially calmed as US consumer inflation cooled to 3.5% in June due to a brief US-Iran peace deal and a pause in the war. However, tension was pushed back up throughout the month as a renewed Middle East conflict and Hormuz uncertainty kept oil prices elevated. These higher oil prices bumped up Japan's June core inflation rate and brought inflation fears back into the spotlight. By July 23, the index hit its monthly high, driven by ongoing concerns that the Middle East conflict would reverse earlier inflation slowdowns.

Scores in this month were computed by the first-generation engine (v1).

Peak 44 on 2026-07-23 · low 29 on 2026-07-02 · locked record · ← June · Inflation Pressure Index timeline · August → · World Tension, same month

• US inflation slows in June, but reversal likely amid Middle East conflict Reuters · 2026-07-30
• Inflation Slowed During Pause in War With Iran The New York Times · 2026-07-14
• Inflation fears are back in the spotlight as the Middle East conflict keeps oil prices elevated, analysts say CNBC · 2026-07-21
• US consumer inflation moderates; upside risks remain amid renewed Middle East conflict Reuters · 2026-07-14
• Iran Economic Crisis: Inflation Hits 87.9%, Unemployment Rises to 9.1% IranWire · 2026-07-29
• NEWSLETTER: Hormuz uncertainty keeps world in inflation limbo Reuters · 2026-07-16
• Warsh pledges Fed policy 'regime change' to rid inflation 'tax' on American people CNBC · 2026-07-14
• Inflation cools to 3.5% in June in relief brought by brief US-Iran peace deal theguardian.com · 2026-07-14

• Inflation cools to 3.5% in June in relief brought by brief US-Iran peace deal