Brent crude oil prices broke through the $100 per barrel mark on July 23, rising over 5% in a single day for the first time since May. Escalating tensions in the Middle East and threats to Red Sea shipping have sharply increased concerns about global energy supply disruptions.
Summary The latest data from the US Bureau of Labor Statistics shows that producer prices surged significantly in May 2026, recording the largest annual increase since 2022. Soaring energy prices were the primary driver of this inflation acceleration, adding new uncertainty to the Federal Reserve’s future monetary policy direction. Details According to the Associated Press, US producer prices rose more than expected both month-over-month and year-over-year in May, with the energy component showing particularly sharp gains. Data indicates that energy price surges were the core force driving overall producer price increases, reflecting the direct transmission effect of global crude oil market volatility on US domestic production costs. ...
US inflation accelerates after weeks of Iran war, with energy costs as the main driver.