U.S. consumer prices increased in December, lifted by higher costs for rents and food as some of the distortions related to the government shutdown that had artificially lowered inflation in November unwound, cementing expectations the Federal Reserve would leave interest rates unchanged this month.

The global economy is proving more resilient than expected, with 2026 GDP growth expected to improve slightly over forecasts from last June, the World Bank said on Tuesday while warning that growth is too concentrated in advanced countries and overall too weak to reduce extreme poverty.

Oil prices paused their run of gains on Wednesday, slipping after four days of increases, as Venezuela resumed exports, but fears of Iranian supply disruptions following deadly civil unrest in the major Middle Eastern producer loom over the market.

Britain's consumers reined in their spending in December by the most in almost five years, according to debit and credit card data from Barclays published on Tuesday, adding to other signs of household caution before Christmas.

That marks the highest reading since July last year with a modest improvement seen especially in Germany. Sentiment towards Europe's largest economy nudged up by 6.3 points to -16.4, with the expectations component in particular sending a positive signal with an increase of 6.8 points.

China's record run of exports, driven by diversification in shipment destinations, is expected to have slowed in the final month of 2025, and the outlook for the coming year depends on manufacturers' ability to expand further into new markets.