Charting the Global Economy: Inflation Mounts as War Drags On

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.