Rising oil prices are feeding inflation risks, forcing central banks to delay rate cuts despite easing geopolitical tensions.
Data & financial journalist covering global economics and policy
Rising oil prices are feeding inflation risks, forcing central banks to delay rate cuts despite easing geopolitical tensions.
Oil prices surged after U.S. and Israeli strikes on Iran raised fears of Strait of Hormuz disruption, a chokepoint that carries about 20% of global crude supply.
Israel’s strikes on Iran’s strategic sites have sent Brent crude and gold prices sharply higher, while potential threats to Kharg Island and the Strait of Hormuz chokepoints could force shipping reroutes, risking wider global supply-chain disruptions.
In Japan, the only Asian economy in G7, core inflation rose at its fastest annual pace in over two years, climbing to 3.5% in April, according to data released Friday. I mapped the inflation (with some caveats) to look at the overall inflation trend in G7 economies.