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Consumer prices in March were up 3.3% from a year ago, the biggest annual increase in nearly two years. Higher gasoline prices tied to the war with Iran accounted for much of the surge. Source: npr.org
Stagflation, unemployment, recession: The Iran war is rewriting the global economy and the damage may be permanent. Source: fortune.com
Higher fuel costs are raising food and travel prices, while a shaky stock market tamps down free spenders. Source: nytimes.com
But the relief is tempered by the reality that the situation on the ground remains unstable Source: bloomberg.com
The Digital Markets Act is beginning to level the playing field between Silicon Valley giants and European competitors, Teresa Ribera told POLITICO’s European Pulse Forum. Source: politico.eu
Hungarian PM Viktor Orbán and his government are facing headwinds in a highly consequential election that could end his 16-year rule, as voters grapple with an ailing economy, ING senior economist Peter Virovacz told Bloomberg Chief Europe Correspondent in Budapest, Hungary. Source: bloomberg.com
Myanmar’s junta chief Min Aung Hlaing pledged in his first speech as President to address the country’s spiraling economic crisis as its people suffer from the Southeast Asian nation’s ongoing civil war. Source: bloomberg.com
Three and a half years of deflationary pressure on Chinese factories reversed course last month as higher energy prices cycled into the economy. Source: nytimes.com
Economic growth across Asia will likely slow even if oil prices stabilize in the coming months, as the impact of war in the Middle East ripples through industries from manufacturing to tourism, according to the Asian Development Bank. Source: bloomberg.com
A LOT OF PEOPLE ARE GETTING RICH off the Trump presidency. Donald Trump himself tops the list, of course, but it also includes his kids and in-laws; other grifting nepo-babies; cabinet members (as well as their staff and children), senior aides; and other well-connected friends, investors, and firms. You know who isn’t on that list? […]
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