Inflation hits 3% in Europe as Iran war spreads oil price shock
FRANKFURT, Germany, April 30, 2026 (AP) — Soaring oil prices from the Iran war pushed inflation higher in Europe in April, as growth continued to underperform in a worrying combination both for consumers and policymakers at the European Central Bank. Annual inflation in the eurozone — the 21 countries that use the shared euro currency — rose to 3% from 2.6% in March, fueled by a 10.9% increase in energy prices, the European Union statistical agency Eurostat reported Thursday. Crude oil is trading above $120 per barrel, up from around $73 before the outbreak of the war on Feb. 28.