Charting the global economy: Inflation mounts as war drags on

Synopsis The Iran war is causing global economic disruption. Inflation is rising, impacting consumers and markets worldwide. The US sees its worst inflation in years, while Europe braces for interest rate hikes. (Bloomberg) –The fallout from the war in Iran continued to ripple across the global economy, complicating the outlook and fueling inflation angst. In the US, a closely watched measure of consumer prices climbed at the fastest pace since 2023, eroding incomes and straining consumers. Elevated oil prices are putting pressure on longer-dated Japanese government bond yields, and Cuba is running out of food and fuel. The European Central…