From Food to Petrol, Europe Seeks to Tame Iran Price Shock

European governments are rushing to stem rising energy and food prices as the Middle East war threatens another wave of inflationary pressure.

Germany will limit price changes at gas stations to once per day, its economy minister announced Wednesday. Greece will cap profit margins on fuel and groceries for the next three months, while Italy will look at using extra VAT revenue from higher automotive fuel prices to cushion the impact on consumers, and punish companies taking advantage of the crisis.