Trump declared inflation 'defeated' — now the U.S. is projected to have the worst inflation among G7 countries in 2026

Despite political declarations that inflation has been defeated, the United States is now projected to lead the G7 in inflation rates throughout 2026. Economic analysts point to the dual pressures of expansive trade tariffs and the lingering effects of the war in Iran as the primary catalysts for sustained price increases. Even if the conflict in Iran reaches a swift resolution, the disruption to global supply chains and energy markets is expected to impact consumer prices at the till for the remainder of the year.