CPI on tap: Inflation seemed to slow before Iran conflict jacked up oil prices. But did it really?

The latest US inflation reading may not reflect the recent surge in oil prices due to the Iran conflict, as the data may not have captured the full impact of the price increase. The article suggests that the inflation rate may appear to have slowed before the conflict, but this may not be an accurate representation of the current situation. The true impact of the oil price increase on inflation will likely be seen in future readings.