Iran War Squeezes Europe's Economy, Exacerbating Stagflation and Cost of Living Crisis The economic shockwaves from the Iran war are now palpable in Europe, with recent data showing business activity, inflation, and employment all faltering.
While some economists caution against drawing parallels with the 1970s' stagflation era, it's clear that a perfect storm is brewing – one that will test policymakers' mettle and exacerbate the cost of living crisis already afflicting millions of households.
The energy sector lies at the heart of this economic malaise.