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The European Central Bank is set to raise rates, the first such move since September 2023, as energy disruptions caused by the Iran war drive higher prices.
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The European Central Bank also raised its inflation forecasts and cut its growth outlook.
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Prices are soaring on these everyday grocery items, driving up inflation The Washington PostOpinion | Inflation gets even worse The Washington PostTrump says ‘I love the inflation,' Bill Gates testifies about his Epstein ties AP NewsConsumer prices rose 4.2% annually in May, highest in three years CNBCTrump's inflation flippancy gifts Dems ready-made midterm ads
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Stock futures slip after U.S. launches additional strikes against Iran, oil rises: Live updates CNBCDow drops more than 900 points as chip sell-off worsens, Trump threatens more Iran attacks: Live updates CNBCUS stock futures dip on Iran escalation, Oracle losses Investing.comNew Middle East Clashes and Inflation Fears Spark Dow's Worst Day of 2026 WSJ
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Companies appear hesitant to pass those price increases on to weary consumers, whose wages aren't keeping up.
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