Inflation is being driven by the high cost of oil resulting from the conflict between the U.S. and Iran. Wholesale inflation rose 0.4% in August, driven higher by rising oil prices that have sent the global cost of a barrel of oil to $100,

Inflation in wholesale prices accelerated last month, the Labor Department said Thursday, in a report closely watched for its implications for the Fed's interest-rate decision next week. The producer price index rose by 0.

Wholesale-price inflation sped up in August, the Labor Department said Thursday.The producer-price index rose by 0.4% last month, versus its 0.1% increase in July. The reading was in line with economists’ forecasts.

Wholesale inflation picked up last month after cooling earlier this summer as higher oil and gas prices stemming from the Iran war are keeping costs elevated. The Labor Department’s producer

The European Central Bank raised interest rates for the second time this year in a widely flagged move on Thursday, hoping to tame an inflation rise driven entirely by higher energy ​costs from the Iran war.

The European Central Bank is raising interest rates to cool inflation that is being fed by high oil prices from the Iran war

Traders in the euro area were bracing for interest rate hikes well into next year on Thursday as the European Central Bank hiked borrowing costs and

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world European Central Bank President Christine Lagarde called today’s rate hike “a no brainer.

Canada struck back at U.S. President Donald Trump on Tuesday with tariffs on about $20 billion worth of U.S. goods, in response to the latest round of tariffs on Canada.

Canada announced tariffs on about $20 billion worth of U.S. goods, in response to the latest round of tariffs on Canada.

Canadian tariffs took effect on $20 billion worth of U.S. goods including milk and steel as President Donald Trump announced a sales ban on Canadian aircraft manufacturer Bombardier until the company builds planes in America.

Canada struck back at U.S. President Donald Trump on Tuesday with tariffs on about $20 billion worth of U.S. goods, in response to his latest round of tariffs on Canada