Americans have spent nearly $450 extra per household on rising energy costs during the Iran War, according to an analysis shared exclusively with CNBC’s Steve Liesman. The average household has shelled out $447.19 for additional fuel-related expenses since the conflict began, data from Moody’s Analytics found. That’s cumulatively cost American consumers nearly $60 billion as…
A “double scar” of past inflation woes and geopolitical trauma is warping how consumers view the economy and threatening a drop-off in retail spending, new research from the European Central Bank showed. According to ECB researchers, euro area households have become more sensitive to the financial consequences of the Iran war due to cumulative economic…
A customer shops at Handy Market on May 14, 2026 in Burbank, California. Justin Sullivan | Getty Images Inflation continued to hit consumer wallets in April, likely keeping the Federal Reserve on the sidelines until the current wave subsides, fresh pricing data released Thursday showed. The personal consumption expenditures price index increased a seasonally adjusted…
Austan Goolsbee, president of the Federal Reserve Bank of Chicago, speaks during the 29th annual Milken Institute Global Conference at the Beverly Hilton in Beverly Hills, California, on May 6, 2026. Patrick T. Fallon | AFP | Getty Images Energy inflation tied to the war in Iran has lasted longer than expected, creating a “stagflationary…
Neel Kashkari, President and CEO, Federal Reserve Bank of Minneapolis, speaks at the Milken Conference 2024 Global Conference Sessions at The Beverly Hilton in Beverly Hills, California, U.S., May 7, 2024. David Swanson | Reuters Minneapolis Federal Reserve President Neel Kashkari said Thursday that bringing down inflation in the U.S. remains his top priority, warning…
The European Central Bank “will do what is necessary” to keep inflation on target, one of its top policymakers has told CNBC. Speaking to CNBC’s Lisa Kim in Singapore on Tuesday, Bank of France Governor Francois Villeroy de Galhau sought to reassure sovereign debt markets that central bankers in Europe were committed to minimizing the…
Miodrag Ignjatovic | E+ | David Paul Morris | Bloomberg | Getty Images U.S. consumers will shell out more for everything from fuel to hot dogs and hamburgers heading into Memorial Day weekend as the Iran War reignites inflation. Total inflation for shoppers rose 3.8% in April from the same month a year ago, the…
Consumer sentiment has tumbled to a fresh record low in May as fears of higher prices grow due to the U.S.-Iran war and elevated oil prices, the University of Michigan’s Surveys of Consumers said Friday. The index of consumer sentiment fell to 44.8 from a preliminary reading of 48.2. It’s also well below the 49.8…
Bahrain Minister of Industry and Trade Abdulla bin Adel Fakhro, attends the session held as part of the St. Petersburg International Economic Forum (SPIEF) in 2024. Anadolu | Anadolu | Getty Images The trade deal between the U.K. and Gulf states is a “monumental achievement,” Bahrain’s industry minister told CNBC. Abdulla bin Adel Fakhro, Bahrain’s…
A Power of Siberia natural gas pipelines facility in Heihe, Heilongjiang province, China, on Tuesday, March 21, 2023. Bloomberg | Getty Images Russian President Vladimir Putin arrived in Beijing on Wednesday to meet Chinese leader Xi Jinping, with the long-stalled Power of Siberia 2 natural gas pipeline on the agenda, as the Iran war disrupts…