Inflation hits 3% in Europe as Iran war spreads oil price shock
Inflation in the eurozone rose to 3.0% in April 2026, up from 2.6% in March, driven by soaring energy prices due to the Iran war and its impact on global oil supplies. Economic growth in the region slowed to just 0.1% for the first quarter, creating concerns of stagflation. Central banks, including the European Central Bank, are holding interest rates steady amid uncertainty over whether inflation will persist.
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ABC NewsLiveVideoShowsGood Morning AmericaShopGMAInterest Successfully AddedWe'll notify you here with news aboutTurn on desktop notifications for breaking stories about interest? OffOnStream onInflation hits 3% in Europe as Iran war spreads oil price shockSoaring oil prices from the Iran war pushed inflation higher to 3% in Europe in AprilByDAVID MCHUGH AP business writerApril 30, 2026, 5:33 AM1:24FILE -Clouds cover the sky over the headquarters of the European Central Bank in Frankfurt, Germany, Sept. 11, 2025.
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