US inflation is projected at 4.2% this year amid economic concerns surrounding the US-Israeli conflict against Iran, according to the Organisation for Economic Co-operation and Development (OECD). In a new report, the OECD made 2026 inflation projections for multiple countries, with the United Kingdom at 4%, Japan at 2.4%, Canada at 2.4% and the US at 4.2%. “The evolving conflict in the Middle East has human and economic costs for the countries directly involved, and will test the resilience of the global economy,” the OECD report reads. “A halt in shipments through the Strait of Hormuz and the closure or damage of energy infrastructure has generated a surge in energy prices and disrupted the global supply of energy and other important commodities, such as fertilisers,” it continues. …The current average price for a regular gallon of gas in the US is about $3.98, up about a dollar from last month, according to AAA.