The research body lifted its inflation forecast for the U.S. to 4.2% from 3%, and said the global economy would suffer a large setback if energy prices stay high for a lengthy period.

For the United States, the OECD now projects headline inflation at 4.2% this year, a full 1.2 percentage points higher than what it forecast back in December. That is a meaningful jump, and it reflects how quickly energy costs have reshaped the economic outlook.

US wholesale inflation accelerated to its highest level in a year in February, adding to concerns that price pressures remained high even before the Iran war began. Data released

Inflation remained unchanged in December, according to a federal report released Tuesday. This past month’s inflation rate was 2.7 percent, matching November’s rate and lower than September’s 3.0 percent, according to the Bureau of Labor Statistics ...

By Howard Schneider WASHINGTON, March 17 (Reuters) - The worst U.S. inflation outbreak in a generation turns five years old this month, a defining economic shock that is still driving policy debates,

Crude oil prices fell following a New York Times report that the Trump administration has sent Iran a 15-point plan to end the Middle East war.