world-economy

Argentina Inflation Cools After Iran War Oil Shock Subsides

Argentina's inflation rate declined for the first time in 11 months, marking a policy victory for President Javier Milei. The slowdown follows a surge in global oil costs triggered by the March Middle East conflict that rippled through Latin American supply chains and drove up fuel expenses. Several African nations faced steeper headwinds from the same shock. Ghana's inflation rose for the first time in 16 months, while Nigeria's rate climbed to a five-month high. Ethiopia's inflation rebounded above 10% as fuel supply constraints persisted. The energy shock has also pushed long-term U.S. Treasury yields to 5% for the first time since 2007 as investors price in sustained inflationary pressures.