US inflation leaps to 3.8%

US inflation leaps to 3.8%

Author: BBC World Service May 12, 2026 Duration: 8:56

The blockade of the Strait of Hormuz have caused higher energy and grocery prices. The average US price for a gallon of unleaded is at its highest level since July 2022, at $4.50.

A Japanese snack maker says it's been forced to print its packaging in black and white because of ink shortages caused by the crisis in the Persian Gulf.

And it's the first day of the Cannes Film Festival in the south of France, one of the biggest events in the world of cinema.


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Author: Language: English Episodes: 71

World Business Report
Podcast Episodes
Tensions in the Gulf as US seizes Iranian ship [not-audio_url] [/not-audio_url]

Duration: 8:55
Global financial markets have headed south again after tensions between the US and Iran took a turn for the worse over the weekend. American forces attacked and then seized an Iranian cargo ship just east of the Strait o…
IMO warning for ships in the Strait of Hormuz [not-audio_url] [/not-audio_url]

Duration: 26:27
Iran has announced that the Strait of Hormuz is open, but the Secretary General of the International Maritime Organisation tells us he wouldn't advise ships to use it, yet. Andrew Peach looks at how the impact of the ong…
Oil price plunges after Iran says Strait of Hormuz is open again [not-audio_url] [/not-audio_url]

Duration: 9:44
Iran's Foreign Minister says ships can again use the crucial Persian Gulf sea route while a ceasefire continues to hold. Markets have reacted sharply to the news. The price of Brent Crude fell 10 percent on the news. Sha…
Jet fuel warning in Europe [not-audio_url] [/not-audio_url]

Duration: 26:28
The head of the International Energy Agency Fatih Birol says the blockade in the Strait of Hormuz could trigger what he calls the largest energy crisis the world has ever faced. He's warned Europe may have as little as s…
Could Europe have ‘maybe 6 weeks of jet fuel left’? [not-audio_url] [/not-audio_url]

Duration: 8:55
That’s a warning from the International Energy Agency boss, Fatih Birol as the Middle East conflict continues to disrupt energy supplies. So what could that mean for airlines and travel?Plus, how did China’s economy grow…
Trump threatens to fire Fed chairman [not-audio_url] [/not-audio_url]

Duration: 26:26
President Trump has threatened to fire US Federal Reserve chair Jerome Powell if he does not step aside next month, raising concerns over central bank independence and market uncertainty. Pakistan remains involved in dip…
Pressure on US to ease global economic pain [not-audio_url] [/not-audio_url]

Duration: 8:56
World finance ministers meeting in Washington have been voicing their anger and frustration at the US because of the financial strains being placed on the global economy caused by its military offensive in the Middle Eas…
IMF warns conflict could tip global economy into recession [not-audio_url] [/not-audio_url]

Duration: 26:28
With the Global recession warning from the International Monetary Fund, Andrew Peach looks at rising oil, gas and food prices, and how they could force central banks to keep interest rates higher for longer.Also, Europea…
IMF warns of global recession [not-audio_url] [/not-audio_url]

Duration: 8:58
In its World Economic Outlook report the International Monetary Fund says that, in a worst case scenario - where oil, gas and food prices spike and remain high this year and next - global growth could fall below 2% in 20…