June 11, 2026
United States:
US Producer Prices Rise at Fastest Pace Since November 2022
US producer prices rose in May at the fastest pace in more than three years as the fallout from the Iran war continued to fan inflation pressures.
The producer price index increased 6.5% from a year earlier, the most since November 2022, according to Bureau of Labor Statistics data out Thursday.
Europe:
ECB Hikes for First Time Since 2023 as Inflation Heats Up
The European Central Bank raised interest rates for the first time in almost three years, concluding it can no longer wait out the Iran war as inflation pressures intensify.
The deposit rate was lifted to 2.25% from 2%, as anticipated by economists and investors who foresee another quarter-point move in September.
Asia:
Takaichi Says 100% of Japan’s Oil Supply to Avoid Hormuz in July
Japan’s crude oil imports in July are expected to be fully sourced from areas that don’t require transit through the Strait of Hormuz, Prime Minister Sanae Takaichi said Thursday, as she seeks to diversify the resource-poor nation’s energy supply ahead of the hot summer months.
“In July we are expecting to secure from alternate sources about 100% of the average monthly amount,” said Takaichi at a cabinet meeting held Thursday afternoon.
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