<div id="readability-page-1">Energy shock impact: The Iran war has cut off 20% of global oil and LNG flows, driving the largest energy supply shock in history. Household squeeze: U.S. wages grew 3.6% while prices climbed 3.8%, ending a three-year streak of real income gains. Central bank dilemma: Rising inflation has shifted expectations from rate cuts to possible hikes, complicating monetary policy worldwide.</div>

<p>Global inflation is surging due to an energy shock from the Iran war, which has disrupted 20% of global oil and LNG flows. U.S. wages increased by 3.6%, but prices rose by 3.8%, ending real income gains. This rising inflation has shifted central bank expectations from rate cuts to potential hikes, complicating global monetary policy.</p>

- The Iran war has disrupted 20% of global oil and LNG flows, resulting in an unprecedented energy supply shock.  
- In the U.S., wages increased by 3.6%, but prices rose by 3.8%, eliminating a three-year period of real income growth.  
- This scenario has caused a shift in central bank expectations from potential rate cuts to possible hikes, complicating global monetary policy.

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Global inflation surges as energy shock reshapes outlook