world-economy

Global Inflation Pressures Mount as Energy Costs Surge Across Major Economies

Inflationary pressures intensified across major economies in April as elevated energy prices spread through supply chains and consumer markets. U.S. import and export prices climbed at their fastest pace in four years, driven by oil-market volatility from the Iran conflict. Consumer price inflation in the United States reached 3.8% annually, exceeding economist forecasts of 3.7%. India's factory-gate inflation hit a three-and-a-half-year high as manufacturers grappled with surging input costs. The cost pressures prompted policymakers to consider fiscal interventions, with discussions underway about reducing fuel taxation. Elevated borrowing costs combined with energy-driven inflation have begun eroding buyer confidence across housing markets, with sentiment deteriorating to levels unseen since 2023.