HASSETT: A sharp fall in inf from lower gasoline prices is imminent.

China’s foreign ministry said several European countries joined a US-Philippine joint statement on the 10th anniversary of the South China Sea arbitration award and the EU issued related remarks. Beijing summoned the relevant countries’ embassies and the EU delegation and lodged stern representations, reiterating its position that the arbitration tribunal was politically contrived, lacks authority and impartiality, and that the award violates basic principles of international law. China said it does not accept or recognize the award, opposes any claims or actions based on it, and urged Europe to refrain from endorsing the ruling to avoid harming China-EU relations and cooperation.

Venezuela's chief economic adviser said the government will publish a debt sustainability analysis necessary for any debt restructuring in the coming weeks.