Euro zone inflation soared past the European Central Bank's 2% target this month due to surging oil and gas prices, ⁠heightening a policy dilemma as expensive energy is a drag on growth but also risks generating a self-reinforcing inflation spiral. Oil prices have nearly doubled as a result of the Iran war and the ECB is now debating whether to raise interest rates to prevent this surge from becoming entrenched in the price of other goods and services. [...]