Inflation set to top 4% for first time in three years on Iran war price shock

Japan’s Producer Prices Jump Again on Elevated Energy Costs

Inflation is likely to have increased for a third straight month in May as the war with Iran sent energy prices higher and ratcheted up pressure on U.S. consumers.

China's wholesale prices rose at the fastest pace in nearly four years in May, driven by surging raw material costs from the Iran war and an artificial intelligence investment boom, while consumer inflation came in below estimates.

The continued pick-up in inflation comes as figures on Tuesday revealed a surge in imports and exports fuelled by demand for tech components and machinery.