Iran war triggers global inflation

The Labor Department reported that consumer prices rose 0.9% in March, with gas prices alone jumping more than 21% in a single month.

This 'oil shock' is creating a cascading impact across the global economy, threatening growth in both developed and emerging nations.

The World Bank has cautioned that the conflict could lead to a structural shift in energy markets, particularly affecting Asian countries reliant on Middle Eastern crude.

As fuel costs continue to rise, central banks are facing increasing difficulty in steering monetary policy without cooling their respective economies too rapidly.