Bab el-Mandeb conflict risks prolonged inflation via shipping disruption

The Iran conflict's extension to the Bab el-Mandeb Strait raises the risk of higher, more persistent inflation, potentially eroding economic growth. The escalation, intensified since summer, could amplify the 'Ormuz effect' and drive a new progressive rise in European living costs, with a negative differential for Spain. The claim is analytical and forward-looking, based on the conflict's trajectory rather than confirmed data.