European Union officials said Friday that Europeans can expect oil and gas prices to remain above what they were before the Iran war for at least until the end of 2027, with prices of other goods also following an upward trajectory.

UK inflation fell to 2.8% in April from 3.3%, below the 3.0% forecast and the lowest since March 2025, as the Ofgem energy cap offset an Iran-war fuel surge. Germany’s Merz…

The EU has downgraded its 2026 economic growth forecast after the Strait of Hormuz crisis sent energy prices sharply higher earlier this year. With no end to the conflict in…