IMF Says Energy and Commodity Prices Easing After US-Iran Deal

📉 IMF — The fund says prices ease; the ECB just said they won't. 📌 LOOK CLOSER: IMF and ECB are now publicly contradicting each other on the post-deal inflation trajectory. The IMF reads spot commodity relief; Schnabel flagged embedded wage and services inflation that survives an oil drop. For European policymakers, the gap matters: IMF framing gives dovish cover, ECB framing keeps rates elevated. Southern European sovereigns absorb the contradiction as a rate risk, not a relief signal.