Normal view

World Bank Warns Iran War Is Slowing Global Growth

11 June 2026 at 14:30
The world economy is weakening as energy prices fuel a new bout of inflation.

© Arash Khamooshi/Polaris for The New York Times

An explosion after U.S.-Israeli airstrikes hit oil storage depots in Tehran. The war has tangled supply chains and caused oil, gas and fertilizer prices to gyrate for months.

Europe Raises Interest Rates as War Stokes Inflation

11 June 2026 at 13:31
The European Central Bank raised interest rates for the first time since 2023. It expects inflation to run hotter than previously thought, and downgraded its forecast for economic growth.

© Samuel Aranda for The New York Times

The European Central Bank is expected to raise its forecast for inflation as the war pushes prices higher.
❌