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Higher gas prices sent headline inflation soaring in March as the monthly rise (+0.9% m/m) was reminiscent of 1970s inflation. The silver lining is core inflation remained subdued, rising a modest +0.2% m/m. The continued…

Higher gas prices sent headline inflation soaring in March as the monthly rise (+0.9% m/m) was reminiscent of 1970s inflation. The silver lining is core inflation remained subdued, rising a modest +0.2% m/m. The continued…

Airports have warned that jet fuel could run short within three weeks in Europe if oil supplies do not start to flow through the strait of Hormuz, raising concerns over flight cancellations in the UK and EU going into the summer holiday season.

Washington
Consumer sentiment plummeted to its lowest level on record due to frustration with price spikes from the US-Israeli war with Iran.
The University of…

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Consumer confidence plunged to a record low in April as fears mounted over rising energy prices and the broader impact of the Iran war, according to a University of Michigan survey Friday.
The university’s headline index of consumer sentiment…

(Bloomberg) — By at least one metric in the $9.5 trillion foreign-exchange markets, demand for the dollar is ebbing amid the tenuous ceasefire between the US and Iran.
Measures of the so-called cross-currency basis — the extra cost…