Energy costs

U.S. services growth reached a nine-month high in July, with input costs hitting a 14-month high. S&P Global's final July reading was 54.6, driven by rising tariffs and energy costs pushing prices higher.

The Reserve Bank of India maintained its benchmark rate for a fourth consecutive review amid concerns about potential inflation from higher energy costs linked to the Iran war. Standard Chartered Bank's Anubhuti Sahay noted that while inflation has remained low, the economic cushion is weaker than it appears.

Eurozone inflation remains high, prompting the European Central Bank (ECB) to consider another rate hike in September. The decision is influenced by persistently elevated energy costs.

Kenya's annual inflation rate rose to 6.5% in July, exceeding the central bank’s target range midpoint for the third consecutive month. The increase is attributed to rising energy costs contributing to price growth.

PG&E has sparked outrage over a move that critics say will burden 16 million Californians with higher bills to reward shareholders, despite the company citing $170 million in customer gas savings. Opponents argue this comes at a time when energy costs are already rising.

Kenyan exporters emphasized energy costs as a critical factor affecting competitiveness, noting industrial electricity tariffs in Kenya are higher than regional rivals like Ethiopia and Egypt. They called for government action to remove systemic obstacles, including energy, freight, taxation, and inter-agency coordination, rather than subsidies. Exporters highlighted that energy-intensive operations face razor-thin margins, with energy accounting for one-fifth of some companies' operating costs.

Rising oil prices could lead to higher UK interest rates later this year, according to economists. The Bank of England is expected to keep rates unchanged this week but faces uncertainty due to renewed conflict in the Middle East affecting energy costs.

The escalating war with Iran is causing higher energy costs for Americans, who are already struggling with affordability. Olivia Gazis reports on this issue.

Republican Michael Whatley and Democrat Roy Cooper discussed energy costs and the Iran War during campaign stops in Gaston County as part of their North Carolina U.S. Senate race.

The Department of Energy's website has removed energy-saving tips for homes, including checking for air leaks and power-hungry appliances, as energy costs rise. Previously, the site offered guidance to identify and address these issues.

Two Democratic state senators, Nikil Saval and Katie Muth, voted against Pennsylvania's bipartisan $50.8 billion state budget, criticizing it for avoiding major issues like rising energy costs, affordable housing, and public transit funding. The budget passed with bipartisan support, but the senators argued it deferred critical policy challenges, particularly in transportation and housing.

Inflation decreased to 3.5% from 4.2%, with the monthly all-items index dropping 0.4% in June due to falling energy costs. The decline marks the largest single-month decrease since April 2020.

More Ohioans are facing power shutoffs due to rising energy costs, with 7.7% of customers at regulated electric utilities experiencing service disconnections for unpaid bills.

Louisiana's agriculture industry is facing significant energy cost increases due to the Iran war, leading some farmers to question the survival of their businesses.

OpenAI's Stargate UK datacentre project, a potential £30bn AI investment, was paused in April due to concerns over regulation and high energy costs. UK ministers previously touted the investment as a major step in the US-UK technology partnership.

Consumer inflation is rising again in 2026 due to an energy shock from conflict in the Middle East. Eurozone inflation reached 3.2%, the highest since 2023, exceeding the European Central Bank's 2% target.

Ministers are urged to address energy costs as Great British households face a 13% increase in energy bills starting 1 July, with the annual cost rising to £1,862. Consumer energy debt has reached record highs amid the surge.

Sen. Armstrong emphasizes that permitting is essential for reducing energy costs. The senator highlights permitting as a critical factor in lowering energy expenses.

Southeast Asia faces a heightened risk of dangerous haze due to rising energy and fertilizer costs, which may lead agricultural companies to use fire for land clearing. Analysts warn that weakened fire-prevention efforts, combined with extreme weather, could exacerbate forest and land blazes. The Singapore Institute of International Affairs issued a rare alert highlighting these concerns.

The article highlights state energy assistance programs and advice from Cherry Dale, vice president of financial education at Virginia Credit Union, on creating emergency and energy savings funds, weatherizing homes, and using budget billing plans to manage summer energy costs.

South Korean producer prices rose the most since 2022, driven by rising energy costs. The increase highlights the impact of energy expenses on production costs in the country.

Governor Abigail Spanberger has signed laws to make housing, health care, and energy costs more affordable. Initiatives include capping out-of-pocket insulin costs, regulating data centers, and creating a $25 million fund for affordable homes.

The founder of Octopus states that climate policies must address energy costs. These remarks are made ahead of a pivotal English by-election.

Kenya's inflation reached 6.7% in May 2026 as the central bank maintained interest rates and reduced its 2026 economic growth forecast, citing increased energy costs linked to the Middle East war.

The UK economy contracted by 0.1% in April. Businesses and households are experiencing increased energy costs.

Wholesale prices experienced the largest increase since 2022 in May, driven by rising energy costs. The unexpected surge in the producer price index suggests potential higher inflation for U.S. consumers in the coming months.

Wholesale inflation in May reached the highest level since November 2022 due to soaring energy costs. The unexpected rise in the PPI report is likely to delay the Fed's interest rate cuts.

The European Central Bank (ECB) has increased interest rates for the first time since 2023, citing the Iran war's impact on rising energy costs as a contributing factor.

House Speaker Mike Johnson defended President Trump's 'I love the inflation' comment, stating it was 'totally out of context' during a CNN interview. Johnson linked the remark to concerns about energy costs tied to the Iran war, though the full context of Trump's statement was not provided in the article.

Sam Hodge, a former prosecutor and Democrat, is challenging Assembly member Didi Barrett in the June primary for the 106th district. Hodge's top priority is affordability, focusing on high energy costs.

Denver-area inflation rose to 5% in May due to a 15% increase in energy costs since March, with gasoline prices up 24.3% regionally and 40.5% nationally. The U.S. launched airstrikes against Iran after a drone collision near the Strait of Hormuz, disrupting oil transport and contributing to higher gas prices in Colorado.

Stocks declined as Trump threatened Iran, and inflation reached a 3-year high in May with a 4.2% annual rise in consumer prices driven by energy costs from the U.S.-Iran conflict.

Inflation reached a three-year high of 4.2% in the year ending May, driven by rising energy costs linked to the war in Iran, according to a government report.

Inflation exceeded 4% in May for the first time in three years due to higher energy costs linked to the war in Iran. The increase in energy prices amid the conflict contributed to the rise in overall inflation.

China's factory gate prices are rising at the fastest rate in four years. Energy costs are increasing due to a war in Iran disrupting supply through the Strait of Hormuz.

Economists predict the Consumer Price Index will show U.S. inflation exceeding 4% for the first time in three years. The rise is attributed to increasing energy costs.

The article highlights how the rapid growth of data centers, driven by AI, cloud computing, and cryptocurrency, poses environmental and public health risks through air and water pollution, noise, land use changes, and energy costs. U.S. data centers are projected to consume 12% of national electricity by 2028, with Virginia hosting over 600 facilities that already use 26% of the state’s electricity.

Houstonians are experiencing difficulties paying energy bills, according to a survey by the UH Hobby School. About one in eight respondents spend more than 10% of their annual income on energy costs.

The domestic LPG price has increased by ₹29 per cylinder, the second hike in three months, attributed to elevated global energy costs. Union Minister Pralhad Joshi stated that an LPG price hike is inevitable due to a global crisis.

Airlines are facing a $100 billion financial impact due to an energy shock linked to Iran. Industry warnings indicate that rising energy costs could reduce airline profits by half.