The Consumer Price Index for February is expected to show that prices only rose slightly before the Iran war, which led to energy costs soaring. The report was released before the U.S. and Israel launched a large-scale attack on Iran. The critical Strait of Hormuz, off the southwestern corner of Iran, has been effectively shut down since the war began, leading to a 20% increase in crude oil prices since the first strikes. The Supreme Court recently struck down many of President Donald Trump's tariffs, ruling that he exceeded his presidential authority when he imposed country-specific emergency tariffs. Despite this, analysts believe inflation remains contained and that a longer conflict could lead to a more sustained increase in oil prices.