Energy Price Shock Pushes Europe's Inflation Target to 2027 as US Utilities Backslide on Clean Energy

Soaring oil and gas prices have forced the European Central Bank to delay its inflation target by a full year, with chief economist Philip Lane warning that the eurozone won't see price growth approach 2% until mid-2027. "This second wave of energy price increases should lead to higher and more persistent inflation," Lane told Swiss daily Le Temps, attributing the persistence to wholesale gas prices passing through to consumers faster than ever—one to three months...