Oil, inflation and interest rates dominated the past week in money news. Test yourself with five quick questions and open each answer to see how you did.
Question 1: Spain’s inflation rate
According to the flash estimate from Spain’s statistics office (INE), what was the country’s annual inflation rate in September 2026?
- A. 3.3%
- B. 4.3%
- C. 4.9%
- D. 6.0%
Show the answer
Answer: C. Spanish consumer prices rose 4.9% year on year in September, up from 4.3% in August and the highest rate since February 2023. Higher fuel prices were the main driver, and core inflation climbed to 3.1%. Read our full story: Spain’s inflation jumps to 4.9%, its highest since early 2023.
Question 2: The Fed’s favorite inflation gauge
The US PCE price index, the Federal Reserve’s preferred inflation measure, was published on September 30. What was the headline annual rate for August?
- A. 3.0%
- B. 3.4%
- C. 3.7%
- D. 4.1%
Show the answer
Answer: B. Headline PCE inflation came in at 3.4%, below the 3.7% forecast, while core PCE slowed to 3.0%. The softer reading cooled bets on another Fed rate hike in October, although inflation is still well above the 2% target. More in our World Economy in 24 Hours and markets midday update.
Question 3: Australia’s interest rates
The Reserve Bank of Australia raised its cash rate on September 30 for the fourth time in 2026. What is the new rate?
- A. 4.10%
- B. 4.35%
- C. 4.60%
- D. 4.85%
Show the answer
Answer: C. The RBA lifted the cash rate by 0.25 percentage point to 4.60%, its highest level since 2011, saying higher fuel prices were feeding into other goods and inflation remained too high. Borrowers on variable-rate mortgages will feel it once banks pass the move on. See our World Economy in 24 Hours.
Question 4: America’s emergency oil stockpile
With diesel above $6 a gallon, the US Energy Department said it would offer more crude from the Strategic Petroleum Reserve. How many barrels is it releasing in this latest round?
- A. 10 million
- B. 40 million
- C. 172 million
- D. 252 million
Show the answer
Answer: B. The department is offering 40 million barrels as an exchange, which companies must repay later. The release completes a 172-million-barrel US contribution to an International Energy Agency emergency drawdown and is expected to leave the reserve at its lowest level since 1982. Read Oil nears $100 as Hormuz talks stall and US taps reserve again.
Question 5: A record quarter for memory chips
Micron Technology reported record results on September 30, driven by demand for AI data-center memory. How much revenue did it report for its fiscal fourth quarter?
- A. $11.3 billion
- B. $41.5 billion
- C. $54.2 billion
- D. $61.5 billion
Show the answer
Answer: C. Micron posted revenue of $54.2 billion, ahead of analyst forecasts of about $51 billion and more than four times the $11.3 billion of a year earlier. It guided to about $61.5 billion for the current quarter. Details in Micron tops forecasts with record $54B quarter, guides higher.
How did you do? 5/5: you’re a markets pro · 3–4: well informed · 0–2: catch up with our Morning Briefing.
New to some of these terms? Browse our glossary and try our money tools.
Written by The Daily Economy editorial team with AI assistance and checked against the linked sources. Read our editorial policy.