Inflation in Europe drops to lowest level since Russia invaded Ukraine
1 year, 6 months ago

Inflation in Europe drops to lowest level since Russia invaded Ukraine

CNN  

London CNN — Inflation in Europe has fallen to its slowest pace since Russia invaded Ukraine, bolstering the case for the region’s central bank to bring interest rate hikes to an end soon. That’s the lowest rate of inflation since February 2022, when Moscow launched a full-scale invasion of its neighbor, sending global energy prices soaring. That could give the European Central Bank reason to pause interest rate hikes soon, although ECB President Christine Lagarde said Thursday that policymakers still had “ground to cover to bring interest rates to sufficiently restrictive levels.” “Today, inflation is too high and it is set to remain so for too long,” Lagarde said at a banking conference in Germany. May’s inflation data will encourage those policymakers arguing that the ECB should end its tightening cycle, “but the hawks will no doubt point to the stickiness of services inflation and the tightness of the labour market,” Franziska Palmas, senior Europe economist at Capital Economics wrote in a note Thursday.

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History of this topic

Fears Budget, Ukraine war and global trade tensions could spark fresh cost of living crisis after inflation spikes to 2.3% in October - more than expected and above BoE's target
1 month ago

Fears Budget, Ukraine war and global trade tensions could spark fresh cost of living crisis after inflation spikes to 2.3% in October - more than expected and above BoE's target

Daily Mail  

Inflation spiked to 2.3 per cent in October as fears grow over the impact of the Budget, Ukraine war and global trade tensions. Inflation spiked to 2.3 per cent in October as fears grow over the impact of the Budget and global trade tensions The effects of the huge borrowing and spending splurge by Rachel Reeves have also yet to …

Why the rise in inflation might actually be... good news
4 months, 1 week ago

Why the rise in inflation might actually be... good news

The Independent  

Inflation is up… and that’s, erm, good news. A small cut in the Bank rate from the current 5 per cent to, say, 4.75 per cent in September, October or November is slightly more likely now than it seemed yesterday. Prices overall on this definition rose by 3.3 per cent in the year to July 2024 – down from 3.5 …

Why Putin’s inflation battle is weakening Russia from within
4 months, 1 week ago

Why Putin’s inflation battle is weakening Russia from within

The Telegraph  

There is no better signal that money is tight than Putin’s decision to appoint a trained economist with zero military experience as his defence minister. “The risk is that a slowdown in growth will become much more pronounced than moderation in inflation which could mean that Russia might be facing a scenario of stagflation as early as next year. This …

Inflation ticks up in Europe, complicating the European Central Bank’s next move
4 months, 3 weeks ago

Inflation ticks up in Europe, complicating the European Central Bank’s next move

Associated Press  

FRANKFURT, Germany — Inflation in the 20 countries that use the euro ticked up to 2.6% in July, stubbornly above the European Central Bank’s target and complicating the ECB’s next decision on whether to cut interest rates and boost growth as the economy struggles to stage a convincing recovery after a long stretch of stagnation. Services inflation, a figure closely …

Inflation ticks up in Europe, complicating the European Central Bank's next move
4 months, 3 weeks ago

Inflation ticks up in Europe, complicating the European Central Bank's next move

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation in the 20 countries …

Russia’s Central Bank hikes interest rate as inflation soars
4 months, 4 weeks ago

Russia’s Central Bank hikes interest rate as inflation soars

Associated Press  

MOSCOW — Russia’s Central Bank on Friday raised its key lending rate to its highest level in more than two years to stem soaring inflation in an overheated economy hit by Western sanctions in response to Moscow’s military action in Ukraine. “For inflation to begin decreasing again, monetary policy needs to be tightened further.” It noted that inflationary risks have …

Inflation has slid again in Europe. Here’s what that means for interest rates
8 months, 3 weeks ago

Inflation has slid again in Europe. Here’s what that means for interest rates

Associated Press  

FRANKFURT, Germany — The inflation that has squeezed European shoppers fell more than expected in March to 2.4%, as cost spikes in the grocery aisle eased and overall price rises headed down in the two biggest economies, Germany and France. But analysts say the decline from 2.6% in February, though welcome, would likely not be enough to move up the …

Inflation in Europe edges down again. But will Houthi attacks on ships spoil the relief?
10 months, 3 weeks ago

Inflation in Europe edges down again. But will Houthi attacks on ships spoil the relief?

Associated Press  

FRANKFURT, Germany — Inflation in Europe edged lower in January to 2.8%, keeping alive speculation about quicker interest rate cuts that would lower borrowing costs for businesses and consumers — and help boost the stagnating economy. “This uncertainty could ultimately prompt central banks to delay rate cuts to give themselves more information on the inflationary impact.” Economic models suggested the …

UK inflation falls by more than anticipated to 2-year low of 3.9% in November
1 year ago

UK inflation falls by more than anticipated to 2-year low of 3.9% in November

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation in the U.K. as …

Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled
1 year ago

Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled

Associated Press  

LONDON — Europeans again saw some relief as inflation dropped more than expected to 2.4% in November, the lowest in over two years, as plummeting energy costs have eased a cost-of-living crisis but higher interest rates squeeze the economy’s ability to grow. The new figure is close to the European Central Bank’s inflation target of 2% following a rapid series …

The world economy will slow next year because of inflation, high rates and war, OECD says
1 year ago

The world economy will slow next year because of inflation, high rates and war, OECD says

Associated Press  

WASHINGTON — The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. China’s “consumption growth will likely remain subdued due to increased precautionary savings, gloomier prospects for employment creation and heightened uncertainty,″ the OECD said. The world economy has endured one shock …

Europe’s inflation eased to 2.9% in October thanks to lower fuel prices. But growth has vanished
1 year, 1 month ago

Europe’s inflation eased to 2.9% in October thanks to lower fuel prices. But growth has vanished

Associated Press  

FRANKFURT, Germany — The inflation that has been wearing on European consumers fell sharply to 2.9% in October, its lowest in more than two years as fuel prices fell and rapid interest rate hikes from the European Central Bank took hold. The lower inflation figure follows a rapid series of interest rate hikes by the European Central Bank. The future …

Europe's central bank is set to halt rate hikes as the Mideast war casts a shadow over the economy
1 year, 1 month ago

Europe's central bank is set to halt rate hikes as the Mideast war casts a shadow over the economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The European Central Bank is …

UK inflation falls to 17-month low of 6.8% but unlikely to derail another interest rate rise
1 year, 4 months ago

UK inflation falls to 17-month low of 6.8% but unlikely to derail another interest rate rise

Associated Press  

LONDON — The rate of inflation in the U.K. fell sharply in July to a 17-month low largely on the back of lower energy prices, official figures showed Wednesday, a welcome development for hard-pressed households struggling during the cost of living crisis. The Office for National Statistics said the annual rate of inflation, as measured by the consumer price index, …

Europe inflation slips to 5.5% — but that won't stop central bank rate hikes
1 year, 5 months ago

Europe inflation slips to 5.5% — but that won't stop central bank rate hikes

The Hindu  

Inflation in Europe slid again in June but fell too slowly to offer much relief to shoppers grumbling over price tags or to stop more interest rate hikes that will raise the cost of borrowing across the economy. While that is a big drop from the peak of 10.6% in October, persistently high prices in the U.S., Europe and the …

Europe inflation slips to 5.5% — but that won’t stop central bank rate hikes
1 year, 5 months ago

Europe inflation slips to 5.5% — but that won’t stop central bank rate hikes

Associated Press  

FRANKFURT, Germany — Inflation in Europe slid again in June but fell too slowly to offer much relief to shoppers grumbling over price tags or to stop more interest rate hikes that will raise the cost of borrowing across the economy. While that is a big drop from the peak of 10.6% in October, persistently high prices in the U.S., …

Europe sees inflation drop to 6.1%, but real relief for consumers will take months
1 year, 6 months ago

Europe sees inflation drop to 6.1%, but real relief for consumers will take months

Associated Press  

FRANKFURT, Germany — Europe’s inflation took a positive turn with a significant drop to 6.1%, but prices are still posing a pinch to shoppers who are yet to see real relief in what they pay for food and other necessities. “Otherwise, you sometimes make impulse purchases.” The food bank at Berlin’s St. Wilhelm Roman Catholic Church, meanwhile, has gone from …

Europe’s economic outlook brightens a little after avoiding recession. But inflation still squeezes
1 year, 7 months ago

Europe’s economic outlook brightens a little after avoiding recession. But inflation still squeezes

Associated Press  

FRANKFURT, Germany — The European Union’s executive body raised its economic growth forecast, saying Europe had dodged a winter recession that was feared amid an energy crisis but warning that stubbornly high inflation is likely to keep hurting the economy by sapping people’s ability to spend. The outlook for the 20 countries using the euro currency improved to growth of …

Europe’s inflation inches up ahead of interest rate decision
1 year, 7 months ago

Europe’s inflation inches up ahead of interest rate decision

Associated Press  

FRANKFURT, Germany — Europe’s painful inflation has inched higher, extending the squeeze on households and keeping pressure on the European Central Bank to unleash what could be another large interest rate increase. Food price inflation eased a little, falling to an annual rate of 13.6% from March’s 15.5%, while energy prices rose a more modest 2.5%. A smaller hike would …

Europe’s economy barely grows as inflation pinches consumers
1 year, 7 months ago

Europe’s economy barely grows as inflation pinches consumers

Associated Press  

FRANKFURT, Germany — The European economy scraped out meager growth in the first three months of the year, barely gaining momentum as stubborn inflation raises the price of groceries and erodes people’s willingness to spend paychecks that are failing to keep pace. Friday’s less-than-stellar increase of 0.1% from the previous quarter follows disappointing growth estimates from the U.S., which kept …

UK inflation remains over 10% as food prices rise
1 year, 8 months ago

UK inflation remains over 10% as food prices rise

Associated Press  

LONDON — The price of food in the U.K. rose at the fastest pace in 45 years last month in, keeping inflation above 10% for a seventh straight month amid a cost-of-living crisis that has fueled a wave of strikes by government workers. Food prices jumped 19.2% in the 12 months through February, the biggest increase since August 1977, the …

European inflation eases for 3rd month but prices still bite
1 year, 10 months ago

European inflation eases for 3rd month but prices still bite

Associated Press  

LONDON — Europe’s inflation rate dipped at the start of the year, giving some relief to consumers but still leaving them facing higher prices that have driven protests and will likely press the European Central Bank into another interest rate hike Thursday. Russia’s war in Ukraine has shaken up food and energy markets, and while commodity prices have fallen from …

Germany sees brighter outlook for Europe’s largest economy
1 year, 10 months ago

Germany sees brighter outlook for Europe’s largest economy

Associated Press  

FRANKFURT, Germany — The German government on Wednesday said it expects to eke out economic growth this year instead of a decline as Europe’s largest economy manages its energy divorce from Russia and shells out support for consumers and businesses hit by higher energy costs. The improved outlook “didn’t fall from heaven — we accomplished it, this country accomplished it.” …

Inflation drops sharply in Europe but some prices are still rising faster
1 year, 11 months ago

Inflation drops sharply in Europe but some prices are still rising faster

CNN  

London CNN — Inflation in Europe continued to decline in December as energy prices rose at a slower pace. Prices across the 19 countries that used the euro in 2022 increased at an annual rate of 9.2% in December, the European Union’s statistical office said Friday. While energy inflation fell to 25.7% in December, compared to 34.9% in November, the …

Inflation in Europe eases but still in painful double digits
2 years ago

Inflation in Europe eases but still in painful double digits

Associated Press  

FRANKFURT, Germany — Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and led economists to predict a recession. Out-of-control inflation is being fed by high energy prices caused by …

Eurozone inflation falls for first time in 17 months
2 years ago

Eurozone inflation falls for first time in 17 months

New Indian Express  

Boosted by soaring energy and food bills triggered by Russia's war in Ukraine, the rate of price increases had hit a new historic record every month since November 21. Analysts had expected the inflation rate in the single currency area to fall but the drop was steeper than predicted by Bloomberg and FactSet, who foresaw 10.4 per cent. Among the …

Inflation in Europe drops for the first time in 17 months
2 years ago

Inflation in Europe drops for the first time in 17 months

CNN  

London CNN Business — For the first time in 17 months, inflation in Europe is easing. In Germany, the bloc’s biggest economy, annual inflation slid to 11.3% from 11.6%, while price gains in France held steady at 7.1%, Wednesday’s data showed. While energy price inflation fell to roughly 35% year-over-year, compared to nearly 42% in October, prices for food, alcohol …

Inflation in Europe eases but is still in painful double digits
2 years ago

Inflation in Europe eases but is still in painful double digits

LA Times  

Inflation in Europe has eased for the first time in more than a year as energy prices drift down from painful highs, but the double-digit rate still hovers near a record and has robbed consumers of spending power and led economists to predict a recession. Roaring inflation is being fed by high energy prices, which have been caused by Russia …

Europe’s inflation likely hasn’t peaked, ECB’s Lagarde says
2 years ago

Europe’s inflation likely hasn’t peaked, ECB’s Lagarde says

Associated Press  

BRUSSELS — The head of the European Central Bank said Monday she does not believe inflation has peaked after reaching the highest levels on record. ECB President Christine Lagarde also told European lawmakers that the bank isn’t through raising interest rates to combat those price spikes. That means the central bank will “continue to tame inflation with all the tools …

As inflation rises, could European support for Ukraine wobble?
2 years, 1 month ago

As inflation rises, could European support for Ukraine wobble?

Al Jazeera  

Europe’s solidarity and commitment towards Kyiv will be tested this winter, and the US midterms might also have an effect, according to analysts. “If Russia succeeds in fomenting social unrest through the energy war, a migration crisis and its disinformation campaign … these could translate in the European support diminishing, which is Russia’s goal,” Loss said, adding though that so …

Inflation hits new record in Europe, slowing economy
2 years, 1 month ago

Inflation hits new record in Europe, slowing economy

The Hindu  

Inflation hit a new record in the 19 countries that use the euro currency, fueled by out-of-control prices for natural gas and electricity due to Russia's war in Ukraine. While liquid gas succeeded in filling Europe's storage for the winter, the higher prices have made some industrial products such as steel or fertilizer expensive or simply unprofitable to make. Natural …

UK inflation accelerates to 40-year high as food prices rise
2 years, 2 months ago

UK inflation accelerates to 40-year high as food prices rise

Associated Press  

LONDON — British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pressure on the embattled government to balance the books without gutting help for the nation’s poorest residents. “In today’s society, I find that completely unacceptable.” Hunt this week told the House of Commons that the government would …

Data | Energy inflation in Europe peaks at 40% as Russia squeezes oil supply
2 years, 2 months ago

Data | Energy inflation in Europe peaks at 40% as Russia squeezes oil supply

The Hindu  

In the seven months following Russia’s invasion of Ukraine, the tables have turned. In the months following the invasion, tougher sanctions against Russian oil and gas remained a contentious subject for countries in the European region. Subscribe here to get the Data Point newsletter delivered to your inbox Data shows that a combination of supply-squeeze from Russia and self-imposed import …

OECD: War in Ukraine to drag on global economy into 2023
2 years, 2 months ago

OECD: War in Ukraine to drag on global economy into 2023

Associated Press  

PARIS — Russia’s war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year, the Organization for Economic Cooperation and Development said Monday in a darkening outlook. The inflation and energy supply shock led the OECD to project annual economic …

Inflation hits 9.1% in countries using euro currency
2 years, 3 months ago

Inflation hits 9.1% in countries using euro currency

Associated Press  

LONDON — Inflation in the European countries using the euro currency hit another record in August, fueled by soaring energy prices mainly driven by Russia’s war in Ukraine. Annual inflation in the eurozone’s 19 countries rose to 9.1%, up from 8.9% in July, according to the latest figures released Wednesday by the European Union statistics agency Eurostat. In the euro …

Hints of cooling prices, but Fed vows firm inflation stance
2 years, 3 months ago

Hints of cooling prices, but Fed vows firm inflation stance

Associated Press  

WASHINGTON — Inflation eased last month as energy prices tumbled, raising hopes that the surging costs of everything from gasoline to food may have peaked. So-called core inflation, which excludes volatile food and energy prices, rose 4.6% last month from a year earlier after rising 4.8% in June. The drop — along with a reduction in the Labor Department’s consumer …

Russia’s war at 6 months: A global economy in growing danger
2 years, 4 months ago

Russia’s war at 6 months: A global economy in growing danger

Associated Press  

MECKENHEIM, Germany — Martin Kopf needs natural gas to run his family’s company, Zinkpower GmbH, which rustproofs steel components in western Germany. Russia’s war led the International Monetary Fund last month to downgrade its outlook for the global economy for the fourth time in under a year. “The world may soon be teetering on the edge of a global recession, …

Turkey’s inflation jumped to 24-year high of 79.6 percent in July
2 years, 4 months ago

Turkey’s inflation jumped to 24-year high of 79.6 percent in July

Al Jazeera  

Turkey’s inflation has been fuelled by the lira’s continued decline as well as the economic consequences of Russia’s invasion of Ukraine. Turkish inflation rose to a fresh 24-year high of 79.6 percent in July, data showed on Wednesday as the lira’s continued weakness and global energy and commodity costs pushed prices higher, though the price rises came out below forecasts. …

Inflation hits record 8.9% in euro area, but economy grows
54 years, 11 months ago

Inflation hits record 8.9% in euro area, but economy grows

Associated Press  

LONDON — Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled by Russia’s war in Ukraine, but the economy managed better-than-expected, if meager, growth in the second quarter. Analysts say the economic growth tied to a rebound in tourism could be the last glimmer of upbeat news, …

Euro zone inflation hits yet another record high in July
2 years, 4 months ago

Euro zone inflation hits yet another record high in July

The Hindu  

Euro zone inflation rose to another record high in July and its peak could still be months away, keeping pressure on the European Central Bank to opt for another big interest rate increase in September. Consumer price growth in the 19 countries sharing the euro currency accelerated to 8.9% in July from 8.6% a month earlier, far above expectations for …

Eurozone inflation surges to record high in fresh blow to Lagarde
2 years, 4 months ago

Eurozone inflation surges to record high in fresh blow to Lagarde

The Telegraph  

Inflation in the eurozone has soared to a new record high, piling more pressure on the European Central Bank as price rises show no signs of slowing. “Going forward, the path for inflation is very dependent on what happens with Russian gas flows, and hence energy prices, but in any case it isn’t expected to come down fast,” she added. …

Russia’s central bank slashes rate, saying inflation slows
2 years, 5 months ago

Russia’s central bank slashes rate, saying inflation slows

Associated Press  

MOSCOW — The Russian central bank diverged from its Western counterparts by slashing its key interest rate Friday just a month after dropping it to where it was before the country sent troops into Ukraine. “The recent essentially involuntary accumulation of savings is a compressed spring in the economy, which can cause dramatic consumption growth under certain circumstances,” central bank …

Russia’s war to keep hitting EU economy, push up inflation
2 years, 5 months ago

Russia’s war to keep hitting EU economy, push up inflation

Associated Press  

BRUSSELS — Russia’s war in Ukraine is expected to wreak havoc with the European Union’s economic recovery for the foreseeable future with lower annual growth and record-high inflation, the bloc’s economic forecast showed Thursday. “Russia’s war against Ukraine continues to cast a long shadow over Europe and our economy,” EU Vice President Valdis Dombrovskis said. Further reductions in gas supply …

Inflation hits record 8.6% for 19 countries using the euro
2 years, 5 months ago

Inflation hits record 8.6% for 19 countries using the euro

Associated Press  

LONDON — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine. Annual inflation in the eurozone’s 19 countries hit 8.6% in June, surging past the 8.1% recorded in May, according to the latest numbers published Friday by the European Union statistics agency, Eurostat. …

UK inflation rate hits new 40-year high of 9.1%
2 years, 6 months ago

UK inflation rate hits new 40-year high of 9.1%

Associated Press  

LONDON — Britain’s inflation rate hit a new 40-year high of 9.1% in the 12 months to May, figures showed Wednesday, as Russia’s war in Ukraine drove food and fuel prices ever higher. Chief economist Grant Fitzner said “continued steep food price rises and record high petrol prices were offset by clothing costs rising by less than this time last …

Russia’s central bank cuts interest rates to prewar level
2 years, 6 months ago

Russia’s central bank cuts interest rates to prewar level

Associated Press  

Russia’s central bank cut interest rates back to their prewar levels Friday, saying inflation and economic activity were developing better than expected despite sweeping Western sanctions imposed in response to the war in Ukraine. Economists say that over time the sanctions will corrode growth and productivity, but the central bank has managed to stabilize Russia’s currency and financial system through …

Europe’s central bank to hike rates in July, 1st in 11 years
2 years, 6 months ago

Europe’s central bank to hike rates in July, 1st in 11 years

Associated Press  

AMSTERDAM — The European Central Bank will raise interest rates next month for the first time in 11 years and add another hike in September, catching up with other central banks worldwide as they pivot from supporting the economy during the COVID-19 pandemic to squelching soaring inflation. “Russia’s unjustified aggression towards Ukraine continues to weigh on the economy in Europe …

Eurozone inflation hits record 8.1% amid rising energy costs
2 years, 6 months ago

Eurozone inflation hits record 8.1% amid rising energy costs

Associated Press  

LONDON — Eurozone inflation hit a record 8.1% in May amid surging energy and food costs fueled in part by Russia’s war in Ukraine. Energy prices jumped 39.2%, highlighting how the war and the accompanying global energy crunch are making life more expensive for the eurozone’s 343 million people. “Energy inflation is likely to remain higher for longer than previously …

Russia Ukraine Conflict Could Cause Global Recession, Says World Bank Chief
2 years, 6 months ago

Russia Ukraine Conflict Could Cause Global Recession, Says World Bank Chief

News 18  

David Malpass, chief of the World Bank. has warned that Russia’s ongoing invasion of Ukraine could cause a global recession as the price of food, energy and fertiliser jump. “As we look at the global GDP, it’s hard right now to see how we avoid a recession… The idea of energy prices doubling is enough to trigger a recession by …

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