Inflation to Surge Beyond 4.5% as Middle East War Escalates
Treasurer Jim Chalmers confirms inflation could peak in the mid to high fours due to Middle East tensions, with interest rate rises expected, but recession is not anticipated.
Category : Economy GDP
Middle East Conflict Drives Up UK Costs and Supply Chain Issues
As oil prices surge due to the Middle East conflict, UK residents and businesses face increased expenses for goods, services, and travel, alongside delivery delays and cancellations.
Fertilizer Shortage Could Devastate Global Food Supply
Yara International CEO warns extended Iran war could slash crop yields by 50%, with fertilizer prices soaring and supply chains disrupted, threatening global food security.
Americans Struggle with Costs Despite Trump's Economic Claims
US workers face rising prices for groceries, utilities, and housing, with many taking on debt as wages stagnate, contradicting President Trump's assertions of a roaring economy.
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70% Say Trump Tariffs Caused Higher Prices - Poll
An exclusive Harris Poll reveals 72% of Americans believe Trump's tariffs negatively impacted the economy, with price hikes felt across party lines as the White House doubles down on trade policies.
Oil Crisis Pushes UK Toward Recession After Economic Flatline
Fresh economic data reveals UK growth stalled in January as oil prices surge above $100 amid the Iran war, with experts warning sustained high prices could plunge Britain into recession.
UK Economy Bleak Data Shows Trouble Before Middle East Crisis
New economic data reveals the UK was already in significant trouble before the Middle East crisis, with weak growth and declining business confidence.
UK Economy Flatlines in January Amid War Inflation Threat
Official figures show zero growth in January as Middle East conflict drives energy price spikes, threatening fresh inflation and potential Bank of England rate hikes.
UK Economy Grows 0.2% as War Clouds Inflation Outlook
The UK economy grew by 0.2% in the three months to January, but the outlook is clouded by Middle East conflict-driven energy price spikes threatening fresh inflation.
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Grocery Prices to Rise Soon from Iran War Energy Costs
Wholesale gas and oil price spikes from the Iran conflict will drive up supermarket costs, with experts warning of imminent price hikes for consumers across the UK.
UK Economy Flat in January Before Iran War Turmoil Hits
Official figures reveal zero growth in January as services sector stalls, delivering a blow to Chancellor Rachel Reeves ahead of Middle East conflict that threatens inflation and recession.
UK Economy Flatlines Before Iran War Impacts Energy Costs
Official figures reveal zero GDP growth in January, missing forecasts, as uncertainty from the chancellor's budget and rising oil prices threaten inflation and interest rate hikes.
UK Economy Stagnates in January, Missing Growth Forecasts
The UK economy failed to grow in January 2026, with GDP unchanged and production declining, raising concerns about economic resilience ahead of energy price shocks.
Mexico's Wealth Gap: 1% Holds 40% of Assets, Billionaires Double Wealth
A new report reveals extreme inequality in Mexico where the richest 1% controls 40% of national wealth. While poverty rates have decreased, the country's 22 billionaires have doubled their fortunes to $219 billion in just five years.
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Middle East War May Plunge UK Into Recession, Study Finds
New analysis reveals that escalating oil prices due to the Middle East conflict could push the UK into a recession, with global GDP expected to decline by 0.7% and inflation rising to 5.1%.
Adam Smith: Rescuing His Legacy from Free-Market Myths
On the 250th anniversary of The Wealth of Nations, Adam Smith's nuanced views on social justice and inequality challenge his free-market caricature, revealing a thinker concerned with institutions and fairness.
Iran War May Deepen Global Cost of Living Crisis
A potential conflict involving Iran, the US, and Israel could severely impact global oil prices and supply chains, exacerbating the existing cost of living crisis worldwide.
UK Inflation Falls to 2.1% in February, Easing Pressures
UK inflation decreased to 2.1% in February 2026, down from 2.5% in January, marking a significant easing in cost of living pressures as energy and food prices stabilise.
Adam Smith's Wealth of Nations Still Vital After 250 Years
A new essay by economist Mark Skousen highlights how Adam Smith's revolutionary 1776 work The Wealth of Nations remains profoundly relevant today, offering timeless insights into economics and human nature.
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UK Economic Recovery Threatened by Iran War Shock
The UK's modest economic growth faces disruption from Middle East conflict and Trump's policies, with forecasts downgraded and fiscal pressure mounting.
Petrol Price Surge Fuels Inflation, RBA Rate Hike Expected
Economists warn soaring petrol prices will drive inflation higher, with the RBA board likely to increase interest rates to 4.1%, hitting Australians with dual financial pressures.
Iran Conflict Oil Spike Threatens Australian Economy, Albanese Government
The US and Israeli military action against Iran has driven oil prices to a four-year high, reigniting inflation fears in Australia and creating economic challenges for Prime Minister Anthony Albanese's second term.
UK Growth Downgraded as Iran Turmoil Impacts Economy
The British Chambers of Commerce has revised UK growth forecasts downward to 1% for 2026, citing Iran conflict disruptions, persistent inflation above target, and weakening consumer spending.
Oil Price Surge Threatens Global Economy in Conflict
Economists warn that soaring oil prices above $100 per barrel due to Middle East tensions could trigger inflation, recession fears, and government intervention worldwide.
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Oil Price Surge: Iran Leadership and Global Economy
As Iran appoints a new supreme leader, oil prices spike dramatically, creating global economic uncertainty. The UK government faces pressure to address rising costs while G7 leaders convene emergency talks.
Oil Price Surge Rattles Markets Amid Middle East War
Asian markets plummet as the Middle East conflict drives oil prices above $115 a barrel, fueling stagflation fears and disrupting global stock exchanges.
Middle East Conflict Sparks Global Inflation Fears
Rising oil and gas prices due to Middle East tensions threaten global economic recovery, with central bankers warning of higher inflation and revised growth forecasts.
Iran War Impact: UK Fuel and Food Prices to Rise
Experts warn the Iran conflict could trigger a new cost-of-living crisis in the UK, with household energy bills potentially rising by £160 annually and food inflation edging upward as supply chains face disruption.
Strait of Hormuz Closure Sparks Global Economic Nightmare
The closure of the Strait of Hormuz has halted shipping, threatening global inflation, disrupting helium for MRI scanners, and risking oil field shutdowns in the Gulf region.
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Inflation Expectations Eased Before Middle East War, BoE Survey Reveals
Bank of England survey shows UK firms' inflation expectations dropped to 3.3% in February before Middle East conflict sent oil prices soaring, creating new economic uncertainty.
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