Fitch Ratings, based in London, has reported that a significant increase in global energy costs is starting to be evident in inflation statistics for March, which have been released by many of the world’s leading economies, including the United States and the eurozone.
In the major developed nations for which data is accessible, prices have experienced an average month-on-month increase of 0.8%, marking the most substantial rise since 2022. The overall annual inflation rate across these markets has increased by 0.3 percentage points, although the full impact of this shock on consumer prices has yet to be realized. However, there is considerable variability, as price control measures in certain countries have mitigated the increase in consumer costs.
In contrast, yields on government bonds have risen universally, as investors anticipate potential fiscal and monetary measures, alongside heightened inflation. The increase in yields for US 10-year government bonds has been relatively modest.
The quarterly report titled ‘Fitch-20 Economic Monitor’ (previously known as ‘20/20 Vision’) provides a comprehensive analysis of the 20 major economies that are central to Fitch’s global macroeconomic evaluations. This report offers five years’ worth of high-frequency economic data across 20 distinct variables, ensuring consistent coverage among the countries assessed.
The report, ‘Fitch-20 Economic Monitor: March 2026,’ can be accessed via the link provided above or directly at www.fitchratings.com.
For editorial purposes, it is noteworthy that Fitch’s Economics team, under the leadership of Chief Economist Brian Coulton, examines global macroeconomic trends and their implications for credit markets worldwide. This team regularly publishes research, forecasts, and analyses focused on 20 significant advanced and emerging economies. Their flagship publication, the ‘Global Economic Outlook,’ along with other macroeconomic research and commentary, is available at www.fitchratings.com/site/economics.
