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EU warns Iran conflict could push the bloc's inflation above 3%, Bloomberg News reports

ReutersMar 11, 2026 8:28 PM

- 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.

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