Israel's annual inflation rate eased more than expected to 3.1% in May, official data showed on Sunday, although it is still slightly above target and the escalation of the country's conflict with Iran poses additional risks to the outlook.

The Federal Reserve and Bank of England are among the central banks due to meet in the coming days as Israel’s attack on Iran adds to a series of geopolitical shocks, including Donald Trump’s trade war, that are clouding the outlook for growth and inflation.

Uncertainty over tariffs had already led the central bank to adopt a wait-and-see approach to interest-rate decisions.

The selloff in the 10-year Treasury kicked off Friday right after Israel abruptly launched military strikes against Iran, and the pressure hasn’t let up since.

US Treasuries are down since tensions between Israel and Iran turned into a direct conflict on Friday and selling pressure is likely to have a lasting effect if past episodes of clashes are any guide.

Selling pressure on 10-year US Treasuries from the latest round of Israel-Iran conflict is likely to have a lasting effect if past episodes of clashes between the two nations are any guide.

The Centre for the Promotion of Private Enterprise (CPPE) says the ongoing conflict between Israel and Iran could trigger significant economic disruptions for Nigeria

Israel's 12-month inflation rate decreased to 3.1 percent in May, down from 3.6 percent in April, according to data issued Sunday by the Central Bureau of Statistics.