Jim Cramer calls elevated CPI 'artificial inflation' — what that means for the stock market

The stock market was under pressure again on Wednesday due to an intensification of the war with Iran. The subsequent rise in oil prices on the same day that the consumer price index registered its highest reading in three years certainly didn't help. The war is a wildcard. Nothing we can do about that. But the CPI, a broad measure of inflation released monthly, was not nearly as bad as the Wall Street narrative would have you believe. Headline CPI in May rose 4.2% year over year. …