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Inflation

Economy

Iran war effects on Europe: Is a recession already unfolding?

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Economy

US inflation surges to 3.3% as Iran war fuels energy price shock

US consumer prices rose sharply in March, with headline inflation climbing to 3.3% year-on-year as energy costs spiked in the wake of the Iran war, official data showed on Friday.

Venezuela

Venezuela police use tear gas against protesters demanding pay rises

The monthly minimum wage in Venezuela is 130 bolivars (€0.23), unchanged since 2022, and roughly 330 times lower than the UN poverty line of $3 (€2.56) a day.

Business

European earnings preview: Who wins and who loses from the Iran war?

Eurozone growth has been cut, inflation is surging and the Middle East conflict has shattered the consensus growth story for European corporates. From Paris to Munich, earnings season begins next week.

Economy

Japan passes biggest ever budget at €664bn amid spending push

The upper house of the Japanese parliament has enacted a state budget of ¥122.3 trillion (€664bn), the largest allocation in the country's history. The move reflects PM Takaichi's goal of an expansionary fiscal policy.

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Economy

Will the US Fed raise interest rates to fight Iran war inflation?

The US Federal Reserve is weighing whether to raise interest rates for the first time in years as the Iran war drives up fuel costs and pushes inflation further above target.

Business

Cocoa shortage: Why your Easter chocolate costs more than before

Cocoa and chocolate prices in Europe rose significantly faster than overall inflation ahead of Easter. Easter supplies depend on increasingly fragile supply chains.

Europe News

Energy crisis: 5 countries appeal to EU for windfall tax

Economy and finance ministers from Italy, Germany, Spain, Portugal and Austria are asking the EU for a tax on energy surplus profits to curb price increases.

Business

Egg prices soar to four times overall EU inflation ahead of Easter

Egg prices, both consumer and wholesale, are on the rise across Europe. Egg inflation significantly outpaces overall inflation in most European countries.

No Comment

Nigeria worshippers mark Easter with Lagos street procession

Nigeria marked Good Friday with hundreds of Catholic faithful marching through Lagos in a public reenactment of the Stations of the Cross, linking Christ’s suffering to the country’s economic pain.

Economy

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

Germany's top economic institutes say the Iran war is exposing structural weaknesses that predate the conflict — and warn that without reform, the country risks permanently underperforming its growth potential.

Economy

Eurozone inflation jumps to 2.5% amid Iran war: Will ECB hike rates?

Consumer prices jumped at their fastest monthly pace since October 2022, driven almost entirely by the energy shock from the Iran conflict. Economists are split on whether Frankfurt will pull the trigger.

Business

European real wages near pre-COVID levels, but Iran crisis poses risks

The post-pandemic surge in inflation across Europe reduced the purchasing power of advertised wages in major economies. In some countries, wages have now caught up, but in others they still lag behind.

Economy

Spain's inflation jumps to 3.3% as Iran war drives energy costs higher

Spain's consumer prices have risen at their fastest rate since 2024, reaching 3.3% year-on-year in March, driven by surging energy costs linked to the ongoing Iran conflict, according to the Spanish national statistics agency.

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.