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New Zealand's inflation rate is expected to hit a two-year high, driven largely by a spike in fuel prices caused by the Middle East war. Economists say the surge stems mainly from volatility in global energy markets.
According to the latest Stats NZ figures, petrol and diesel prices in New Zealand fell between May and June. There was, however, a slight increase in food prices over the same period.
New Federal Reserve Chairman Kevin Warsh avoided major stumbles during two days of testimony before the House and Senate. His commitment to price stability now faces a rapid, real-world test.
A longer downturn in investment markets may prompt some KiwiSaver members to reassess their retirement savings strategy, experts say. Advisers warn that selling out of panic during a slump can permanently damage long-term returns.
A new CNBC All-America Economic Survey shows public sentiment about the US economy has sunk to its lowest point since the years immediately following the pandemic. Respondents increasingly point to President Trump's policies as a factor behind the souring mood.
Reserve Bank of India governor Sanjay Malhotra identified the Iran war's pressure on oil prices and the trajectory of this year's monsoon rains as the two key risks facing India's economy. Malhotra said both factors will shape the outlook for inflation and growth.
Weak domestic demand and the impact of the Iran war on oil prices overshadowed the country's strong exports. Growth came in notably below the government's stated target.
Argentina's monthly inflation rate slowed to 1.9% in June, marking the third consecutive month of declines. Accumulated inflation for the first half of the year reached 16.8%.
New York Federal Reserve President John Williams said the latest surge in US inflation has likely peaked, citing five reasons behind the assessment. He added that current interest rates are well positioned to guide inflation back toward the Fed's target.
Americans have enjoyed some relief at the gas pump in recent weeks, relief that helped cool inflation. That may not last as the United States and Iran continue to vie for control of the Strait of Hormuz.