Democratic lawmakers are urging Congress to block the revised Sanctioning Russia Act of 2026, warning that the bill, championed by the late Senator Lindsey Graham, would impose tariffs up to 100% on imports from countries buying Russian oil and gas, leading to higher prices for American consumers and damaging trade relationships.
China's consumer prices rose 1% year-on-year in June, missing forecasts and slowing from May, while wholesale inflation accelerated to 4.1%, driven by energy costs and AI demand, indicating weak domestic demand.
China's consumer prices rose 1% year-on-year in June, below economists' expectations and slowing from May. Meanwhile, wholesale inflation accelerated to 4.1%, driven by energy costs and demand for AI technology, though input cost inflation eased.
Inflation in Russia increased to 0.31% in the week of June 30 to July 6, up from 0.22% the previous week. Consumer prices have risen 0.26% since the start of June, with notable price hikes in poultry, sugar, and various food items.
South Korea's Prime Minister Han Seong-sook stated that controlling inflation is the government's top priority following data showing consumer prices rose 3.2% last month, the fastest pace in 30 months. She emphasized efforts to stabilize prices and prepare for economic cooperation with the Middle East.
South Korea's consumer prices increased 3.2% year-on-year in June, marking the second consecutive month above 3%. This rise is attributed to supply chain disruptions from the Middle East war, elevated fuel prices (up 24.7%), and increased agricultural product costs.
South Korea's consumer prices increased by 3.2% year-on-year in June, marking the second consecutive month above 3%. This rise is attributed to supply chain disruptions from the Middle East war and soaring fuel prices, which jumped 24.7%. Agricultural products and service prices also saw significant increases.
South Korea's consumer prices increased 3.2% year-on-year in June, marking the second consecutive month above 3%. This rise is attributed to supply chain disruptions from the Middle East war, leading to a 24.7% surge in fuel prices. Efforts are underway to stabilize inflation.
South Korea's consumer prices increased by 3.2% year-on-year in June, marking the second consecutive month above the 3% threshold. The rise is attributed to soaring petroleum product prices, including a 23.1% jump in gasoline and a 33.7% surge in diesel, due to Middle East war impacts on supply chains and oil costs.
UK households saw a 0.8% drop in real disposable income in Q1 due to rising inflation and capital gains tax, marking the fourth decline in five quarters. The ONS reported 0.6% GDP growth, while political figures like Andy Burnham pledge to tackle living costs, and economists forecast a cautious economic outlook.
Iran's Consumer Price Index surged 88.6% year-on-year in June 2026, driven by structural issues, sanctions, and recent conflict. Discrepancies exist between official and central bank figures, but both indicate severe, entrenched inflation impacting essential goods and wages.
US inflation, measured by the Federal Reserve's preferred PCE index, rose to a three-year high of 4.1% in May, fueled by rising gas prices and demand for semiconductors. This surge, coupled with increased consumer spending and incomes, could complicate political prospects for Donald Trump and his party ahead of midterm elections, as the Federal Reserve considers interest rate hikes.
South Korea's consumer prices are expected to remain elevated due to rising incomes from the tech boom and global energy price volatility, according to a Bank of Korea report. Inflation is projected to stay around 3% in late 2026.
Consumer prices in France rose 2.4% year-on-year in May, up from 2.2% in April, driven by accelerating energy and services costs, particularly gas and communication services, according to Insee.
US consumer prices surged 4.2% in May, the highest in three years, while South Korea's May employment data showed a significant drop in young job seekers, with 255,000 fewer employed.
President Trump expressed his "love" for inflation despite US consumer prices rising at their fastest annual pace in over three years. Data showed a 4.2% annual increase in May, driven by energy costs linked to the Iran conflict.
Inflation hit a three-year high in May, driven by soaring gas prices, posing a challenge for the Federal Reserve and the Trump administration as midterm elections approach. Consumer prices rose 4.2% year-over-year.
Russia's annual inflation rate decreased from 5.58% in April to 5.31% in May, according to Rosstat. Consumer prices saw a monthly increase of 0.17%, driven by a 1.55% rise in services, while food prices declined.
US consumer prices rose 4.2% in May, the highest in over three years, driven by energy costs linked to the Iran war. Tariffs and AI spending also contribute to inflation, complicating the Federal Reserve's interest rate decisions.
US Consumer Price Index rose 4.2% in May year-over-year, the fastest pace since 2023. The reading complicates the Fed's outlook, with traders expecting rate hikes, pressuring crypto prices.
South Korea's government forecasts consumer prices to rise by around 2.7% this year, aligning with the Bank of Korea's projection. Measures like oil price caps and fuel tax cuts may be eased if international oil prices stabilize. The government plans to expand tariff quotas and release state reserves to stabilize prices.
South Korea's consumer prices surged 3.1% in May, a 26-month high, driven by a 24% jump in petroleum prices due to the Middle East war. The Bank of Korea may raise interest rates, increasing the burden on vulnerable groups. Government measures are under review.
South Korea's consumer prices rose 3.1% year-on-year in May, the highest in 21 months, due to soaring oil prices from the Middle East conflict and increased service costs. The Bank of Korea signaled potential interest rate hikes, exacerbating the triple burden of high prices, high interest rates, and a high exchange rate for citizens.
President Lee Jae Myung ordered prompt action to stabilize consumer prices and stern punishment for market manipulation. He emphasized price stability as crucial for economic growth and people's livelihoods, also vowing to focus on balanced development and global leadership.
