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Inflation

Economy

Iran war slashes Germany's growth outlook by 50%, with deficit at 4.2%

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Economy

Is Europe sleepwalking into its worst gas crisis since 2022?

European gas prices have surged 70% and storage is running low. Supply disruptions, rising inflation and the prospect of ECB tightening are raising fears of a repeat of the 2022 energy crisis.

Economy

OECD cuts eurozone growth forecast as energy prices surge

The OECD said Thursday it was cutting its eurozone growth outlook and forecasting higher inflation for 2026 after the Middle East war caused energy prices to skyrocket.

Economy

Iran war energy shock puts ECB on alert — Lagarde vows timely response

The Iran war has sent oil and gas prices surging and rate hike bets rising, but ECB chief Christine Lagarde says the eurozone is far better placed to absorb the shock than it was when Russia invaded Ukraine.

Economy

Iran war has 'material impact' on inflation, ECB's Lagarde warns

ECB holds rates, warning Middle East tensions and oil risks could push inflation higher. Baseline sees 2.6% in 2026, but energy shocks could lift it to 3.5% or 4.4%, depending on how long supply disruptions persist.

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Economy

ECB keeps rates steady as rising energy prices fuel inflation concerns

The European Central Bank (ECB) kept its key policy rates on hold on Thursday, as fresh spikes in oil and gas prices threaten to derail recent progress in reducing inflation.

Economy

Bank of England holds rate at 3.75% amid Iran war inflation fears

The Bank of England has held its main interest rate at 3.75% in the wake of rising oil and gas prices following the start of the Iran war.

Markets

Markets on edge as ECB prepares to set interest rates

European markets have opened lower as investors await the European Central Bank’s rate decision, with a sharp rise in gas and oil prices fuelling fresh inflation concerns.

Economy

Fed projects one rate cut, sees limited Iran war impact

Federal Reserve officials say the war in Iran is likely to push up inflation this year, while having little impact on economic growth.

Economy

Iran raises minimum wage by 60% as war decimates household budgets

The Iranian regime has announced a 60% increase in the minimum wage as the country grapples with the ongoing war and record inflation.

Economy

Why is chocolate so expensive — and where have prices risen most?

Chocolate prices rose 18% across the EU in 2025 — the highest increase of any food item — as drought in West Africa drove up cocoa costs. But the impact has varied widely across Europe.

Business

Portugal's food basket cost at all-time high but not due to Iran war

The basket of food products monitored by the Portuguese Association for Consumer Protection reached an all-time high this week. However, the increase cannot yet be justified by the Iran war.

Economy

How high could Europe's inflation go if the Iran war continues?

Economists estimate that rising oil and gas prices could significantly lift eurozone inflation. Markets have already begun pricing in the risk of a rate hike in 2026.

Europe News

EU eyes oil reserves as Iran war sends energy prices surging

Ministers are exploring measures to curb energy prices and inflation at a series of meetings in Brussels, with the release of oil reserves being discussed. Germany stated that it supports keeping the option on the table, but emphasised that now is not the right time to use it.

Economy

Iran war: How exposed are European economies?

The closure of the Strait of Hormuz has sent gas prices surging by 60%, putting additional strain on Europe's already-depleted winter inventories and prompting economists to revise their 2026 growth and inflation outlooks.

Economy

Spring statement: Iran war casts shadow over UK economic recovery

Chancellor Rachel Reeves sought to strike an upbeat note on Tuesday on the state of the UK economy, even as oil and gas prices surged in the wake of the fast-evolving war with Iran.

Economy

Iran attacks threaten US GDP growth and inflation prospects

The US and Israeli attacks on Iran have pushed up oil prices, adding fresh uncertainty to a US economy already facing stubborn inflation and weak hiring.