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Inflation cools to 3.5% in June in relief brought by brief US-Iran peace deal
Category
Business
Published
Tuesday, July 14, 2026 at 4:56 PM
Publisher
The Guardian Business
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The Guardian Business 7 days ago

Inflation cools to 3.5% in June in relief brought by brief US-Iran peace deal

Quick Summary

Recent strikes have sent oil prices climbing again, with average gas price per gallon up by $0.70 compared with 2025 Inflation cooled to an annual rate of 3.5% in June as the brief US-Iran ceasefire, which has since ended, brought energy prices down, according to new data from the Bureau of Labor Statistics. The consumer price index (CPI), which measures a basket of goods and services, has been elevated since the start of the war, largely because of higher energy prices. After mostly staying under 3% since mid-2024, CPI reached a three-year high of 4.2% in May – up from 2.4% in February. Month-over-month, CPI fell 0.8% in June, the largest one-month decrease since April 2020. Continue reading...

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Spanish hotel chain ceases operations in Cuba under pressure from Washington
Spanish hotel chain ceases operations in Cuba under pressure from Washington

Meliá group says Donald Trump’s sanctions make it ‘impossible’ to keep any of its 34 sites open A Spanish hotel chain is to cease all operations in Cuba at the end of the week due to “major difficulties” in doing business on the island under growing pressure from Washington. The latest US sanctions make it “impossible, de facto and de jure, to maintain even minimal operational stability”, the Meliá group explained in a statement on Tuesday to the Spanish stock market regulator. Continue reading...

The Guardian Business 4 hours ago
US claims of Cuba’s ‘unique threat’ jar with reality of hunger and blackouts
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State department’s 100-page report is latest push in Trump administration campaign to bring down government The US government’s latest allegations that Cuba is behind “many of the most significant upheavals in recent American political history” and that its leaders pose “a unique threat to American homeland security” have come as startling revelations to those living under the six-month-long US oil blockade in Havana, where desperate people search through piles of uncollected rubbish for food, or else swelter at home in 24-hour-plus blackouts. The unsigned 100-page report, Cuba: Capital of 21st-Century Communism, published by the US state department on Monday, blames Havana for everything from “the George Floyd riots to the rise of antifa to the explosion of pro-terrorist activism on American college campuses”. Continue reading...

The Guardian Business 6 hours ago

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