Recent data from the Federal Statistical Office indicates that consumer prices rose 2.9% compared to April 2023, up from 2.7% in March. The conflict has disrupted oil supply through the Strait of Hormuz, contributing to rising global prices and increased costs for energy and transportation. Notably, household energy and fuel prices surged by 10.1% year-on-year. While food prices also saw an uptick, core inflation, excluding energy and food, slightly decreased to 2.3%. Analysts suggest that the European Central Bank is unlikely to raise interest rates in response to this inflationary pressure.