Source: SFGate
“Soaring oil prices from the Iran war pushed inflation higher in Europe in April, as growth continued to underperform in a worrying combination both for consumers and policymakers at the European Central Bank. Annual inflation in the eurozone — the 21 countries that use the shared euro currency — rose to 3% from 2.6% in March, fueled by a 10.9% increase in energy prices, the European Union statistical agency Eurostat reported Thursday. Crude oil is trading above $120 per barrel, up from around $73 before the outbreak of the war on Feb. 28. Meanwhile, eurozone growth for the first three months of the year disappointed with a marginal increase in economic output of 0.1% over the quarter before.” (04/30/26)