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G-7 Braces for Prolonged Inflation as Oil Prices Fuel Global Rate Concerns

Finance ministers from the Group of Seven are confronting persistent inflationary pressures tied to elevated crude prices, a shift from earlier expectations that price growth would moderate. Bond yields surged globally Friday, with Japanese government debt posting record highs across the curve as traders priced in the possibility of extended central bank tightening. The spike in borrowing costs rippled through equity markets, halting recent gains and signaling investor anxiety over the path forward. U.S. consumer price data due this week is expected to reinforce mounting concerns about inflation's staying power. Oil-driven cost pressures now dominate policy discussions among world finance officials, forcing central banks across developed economies to reassess monetary policy trajectories and overshadowing broader economic recovery prospects.