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Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
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Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
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Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
ASX Proposes New Share Dilution Limits for Public Takeovers 
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Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
German Industry Employment Falls to Lowest Level in a Decade 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Italy’s service sector faced mounting cost pressures in April 2026, with businesses reporting the sharpest rise in input prices in more than three years amid ongoing instability in the Middle East. According to the latest HCOB PMI survey released on Wednesday, inflationary pressures continued to weigh heavily on companies, even as overall business activity showed signs of improvement.
The input cost inflation index in Italy’s services sector climbed to 65.5 in April from 64.6 in March, reaching its highest level since February 2023. Analysts linked the increase largely to geopolitical tensions tied to the Iran conflict, which has disrupted supply chains and added uncertainty across European markets.
Despite rising costs, Italy’s headline Services Purchasing Managers’ Index (PMI) improved to 49.8 in April from 48.8 in March. While the reading remained slightly below the 50-point threshold that separates economic expansion from contraction, it performed far better than market expectations. Economists surveyed by Reuters had forecast a weaker reading of 47.6.
S&P Global economist Eleanor Dennison said uncertainty surrounding the Middle East conflict continued to impact customer demand while simultaneously driving up operating expenses for businesses. Companies struggled to transfer higher costs to consumers due to already weak demand conditions, leading to tighter profit margins across the sector.
Dennison warned that if the pressure on margins continues, businesses may reduce hiring activity and delay investments, potentially affecting Italy’s broader economic outlook.
Italy’s manufacturing sector also experienced rising inflationary pressures, with factory input costs reaching their highest level in nearly four years. However, the country’s composite PMI index, which combines both manufacturing and services activity, rose to 50.5 in April from 49.2 in March, signaling a return to modest overall economic growth after the previous month’s contraction.
