Energy prices news, events & figures

ECB raises rates to 2.25% as Iran war fuels inflation

The European Central Bank raised its key rate to 2.25%, citing energy-driven inflation pressures from the Iran war and a weaker growth outlook.

Wholesale prices jump 1.1% in May as energy costs surge

Wholesale prices rose 1.1% in May, topping forecasts as energy and gasoline costs drove a fresh increase in pipeline inflation.

Energy shock puts ECB on course for expected rate hike

The ECB is expected to raise rates as euro zone inflation climbs, with higher energy prices reviving concern about broader price pressures.

U.S. inflation rose to 4.2% in May, highest in three years

U.S. consumer prices rose 4.2% from a year earlier in May, matching forecasts but marking the highest annual inflation rate in three years.

Canada’s inflation rate rises to 2.8% as gas prices surge

Canada’s annual inflation rate rose to 2.8% in April as gasoline and broader energy prices jumped, even as food and rent inflation eased.

Trump’s China trip is shadowed by the Iran war and energy squeeze

Trump is in China as the Iran war drags on, with energy costs rising and Washington still rejecting Tehran’s latest proposal to end the conflict.

Trump Rejects Iran Peace Demands, Floats Gas Tax Suspension

Trump rejected Iran’s peace demands and said he wants to suspend the federal gasoline tax, an idea that would require congressional approval.

US inflation hits 3.8% as Iran war drives energy costs

US inflation rose to 3.8% in April, its fastest pace since May 2023, as energy, food and housing costs climbed amid the war in Iran.