EU warns Iran conflict could push the bloc's inflation above 3%: Report

The European Union warned that its inflation rate could surpass 3% this year if the war ‌in ⁠the Middle East ⁠causes Brent oil prices to remain around $100 per barrel and gas prices stay elevated for an extended period, Bloomberg ⁠News reported ‌on Wednesday.

In that scenario, economic ⁠growth in 2026 would also be as much as 0.4 percentage points lower than the 1.4% pace forecast late last year, EU ‌economy chief Valdis Dombrovskis told the bloc's finance ministers this ⁠week, the report said, citing people familiar with the matter.

Reuters could not immediately verify the report.