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US producer inflation beats forecast as diesel spikes

US wholesale inflation picked up more than expected in August, government data showed on Thursday, driven by higher energy costs in the month – particularly for diesel – as the US war on Iran…

  • US producer inflation exceeded forecasts in August
  • Diesel prices surged 24.1% due to Iran conflict
  • Diesel now averages $5.98 per gallon in US

ECB lifts borrowing costs amid energy shock

The European Central Bank raised interest rates on Thursday for the second time this year, as renewed Middle East fighting fans fears of higher inflation, and opened the door for further hikes.

  • ECB raises interest rates to 2.5% for second time this year
  • Rate hike due to Middle East conflicts and energy prices
  • ECB optimistic about eurozone economy's resilience

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