Jeffrey Roach, chief economist at LPL Financial, said current inflationary
pressure should not be wholly attributed to the Middle East war — while some
reflects supply constraints, a portion is demand-driven. The Federal Reserve
will factor demand-side pressure into its decision-making and may raise rates in
December to curb demand-driven inflation. Rent inflation has been steady at
2.7%–2.9% over the past 10 months.