Wholesale inflation rebounded in the US due to rising oil prices amid the Iran trade war.

Wholesale inflation in the United States increased last month, reversing a trend of cooling prices observed during the summer. This rise is primarily attributed to surging costs for oil and gas, which are being driven by the ongoing conflict in Iran. As of September 10, the price of West Texas Intermediate (WTI) crude oil opened at $99.83 per barrel, representing a 3.9% increase linked to the war, which has now lasted over six months.

In a separate economic development, wage growth in Spain remains significantly lower than the rate of inflation. Data through August shows that collectively bargained salaries rose by 3.04%, an increase of two-tenths of a percentage point from July. However, this growth remains well below the national inflation rate, which reached 4.3% during the same period.