Inflation is set to come in hotter, mortgage rates keep climbing, and attacks around the Gulf are pushing oil higher — bad news for borrowers, retirees, and anyone buying gas.

• The next inflation report is expected near 3.6%, meaning prices are rising faster again.
• Mortgage rates just hit 7.5%, and talk is already shifting to when they reach 8%.
• Social Security's cost-of-living raise will likely land near 3.6%, far short of the 5-8% people say they need to keep up.
• A container ship sank in the Strait of Hormuz after reportedly hitting a naval mine, and the Houthis claim attacks on a Saudi airport and Aramco's headquarters.
• Oil is trading above $100 with forecasts of another $20-25 rise, and a diesel shortage is expected to run into 2027.

Outlook: Expect higher gas, diesel, and borrowing costs into next year unless the Middle East conflict cools off.