International

Brazil April inflation hits 26-year high

AFP

Brazil’s inflation rate hit a 26-year high for the month of April, the government said Wednesday, as spiraling prices continued to defy the central bank’s push to rein them in.

The national statistics institute, IBGE, said inflation in the 12 months through April rose to 12.13 percent, the highest since 2003 and well above the central bank’s target of 3.5 percent.

The rate for April came in at 1.06 percent, the highest for the month since 1996, IBGE said.

That was worse than the forecast of one percent by analysts polled by business daily Valor.

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Food prices were the main inflation driver in April, rising more than two percent.

Fuel prices remained an underlying factor, up more than 33 percent in the past year.

“The strength of price pressures is likely to keep policymakers at the central bank concerned,” William Jackson, chief emerging markets economist at consulting firm Capital Economics, said in a note.

Brazil’s central bank has been on one of the most aggressive monetary tightening cycles in the world, rapidly hiking the key interest rate from two percent in March 2021 to 12.75 percent currently.

But inflation has so far remained stubbornly high, hurting Brazilians’ wallets — and President Jair Bolsonaro’s popularity as he gears up to seek reelection in October, trailing leftist ex-president Luiz Inacio Lula da Silva (2003-2010) in the polls.

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International

German president says trust in U.S. leadership is ‘lost’ amid global tensions

German President Frank-Walter Steinmeier said on Tuesday that trust between the United States and its Western allies has been “lost,” warning that the damage could persist beyond the presidency of Donald Trump.

“The rupture is very deep, and the loss of trust in U.S. great power policy is significant—not only among its allies, but also, as I observe, globally,” Steinmeier said during a speech in Berlin marking the 75th anniversary of Germany’s Foreign Ministry.

Referring to the future of transatlantic relations, he stated that “there is no return to the situation before January 20, 2025,” the date marking the start of Trump’s second term in the White House.

“Even a future U.S. administration will no longer be able to resume the role of a benevolent hegemon guaranteeing a liberal international order,” added Steinmeier, who previously served as Germany’s foreign minister.

He also criticized the war against Iran, describing it as “contrary to international law” and calling it “a political mistake with serious consequences.”

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“This war is avoidable and unnecessary,” he said.

Although the German presidency is largely ceremonial, Steinmeier’s remarks reflect a broader concern within Germany, aligning with the government’s cautious stance while going further in tone.

International

Trump claims talks with Iran as G7 meets to address global tensions

U.S. President Donald Trump said that the United States has held talks with Iran—a claim denied by Tehran—and has temporarily paused his threat to target the country’s electrical infrastructure.

In his first overseas trip since the United States and Israel launched their offensive on February 28, U.S. Secretary of State Marco Rubio is expected to address key global issues, including the situation in the Middle East, according to State Department spokesperson Tommy Pigott.

Foreign ministers from the Group of Seven will meet in Cernay-la-Ville, close to Versailles, on the outskirts of Paris.

During the meeting, Rubio will hold discussions with his counterparts on “the war between Russia and Ukraine, the situation in the Middle East, and threats to global peace and stability,” Pigott said.

France currently holds the presidency of the G7, whose members also include the United Kingdom, Canada, Germany, Italy, and Japan.

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Although all G7 nations are close allies of the United States, none has offered explicit support for Washington’s military actions against Iran, a stance that has reportedly frustrated Trump.

Last Saturday, G7 foreign ministers called for an “immediate and unconditional end” to Iranian attacks against U.S. allies in the Middle East.

International

Pentagon to deploy 3,000 troops to Persian Gulf as Middle East tensions escalate

The Pentagon is planning to deploy nearly 3,000 troops from the 82nd Airborne Division to the Persian Gulf, according to two senior officials cited Tuesday by Spanish newspaper El País.

Meanwhile, Hezbollah warned it would confront any attempt at occupation following Israel’s announcement that its military will take control of southern Lebanon up to the Litani River, located about 30 kilometers from the border.

In recent hours, the Israel Defense Forces carried out airstrikes on Beirut, while Iran and Hezbollah responded with attacks on Israel, leaving at least six people with minor injuries in Tel Aviv.

The escalation comes as global markets react to renewed instability. The price of oil rose again above $100 per barrel after a brief decline the previous day, following an announcement by U.S. President Donald Trump of a five-day truce on attacks targeting Iran’s energy infrastructure.

Despite the announcement, Iranian authorities reported that two projectiles struck a gas pipeline in Khorramshahr and administrative buildings at a gas facility in Isfahan early Tuesday.