Iran conflict blamed for US energy shock and pressure on gas and grocery costs

Treasury Secretary Scott Bessent called the price surge an Iran-related energy shock and predicted relief when the conflict ends. September data complicate his broader inflation claims: core CPI accelerated, rents rose, and gasoline jumped, though grocery prices edged down and prescription-drug prices posted a record annual decline. Hormuz disruptions have also raised oil-shipping costs and threatened food prices. Reza Pahlavi cited those pressures in urging Americans to prioritize Iran in November.