Trump is considering resuming military actions against Iran, and Iran isn't sitting idly by either — 30 out of 33 missile positions in the Strait of Hormuz remain combat-ready, Tehran Province is conducting military drills simultaneously, and they have also filed a lawsuit with an international arbitration body.

An even more noteworthy detail is: the U.S. military has adjusted the routes of 65 merchant ships, with 4 of them directly unable to operate; the UK has also announced the deployment of drones, fighter jets, and warships to participate in the Hormuz operation.
This is no longer just talk; actual military resources are being redeployed.
The Strait of Hormuz is a critical choke point for global oil transportation. If shipping costs are pushed higher, the chain of rising oil prices → inflation → expectations of rate cuts will be tightened again.
For risk assets, short-term risk aversion sentiment may be more damaging than the CPI data itself. 🌊