Charting the Global Economy: War Fuels Inflation, Saps Sentiment

Surging fuel costs stemming from the Iran war are sparking a rapid run-up in inflation and sinking consumer confidence.

In the US, a record increase in the cost of gasoline sparked the steepest advance in a closely watched measure of consumer prices in nearly four years. Consumers in both the world’s largest economy and Canada have become more pessimistic, with sentiment in the US tumbling to a record low.