Inflation hits record 10% in 19 EU countries using euro
2 years, 2 months ago

Inflation hits record 10% in 19 EU countries using euro

Associated Press  

FRANKFURT, Germany — Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power. The European Central Bank is raising interest rates to combat inflation by keeping higher prices from being baked into people’s expectations for wages and prices, it but can’t by itself lower energy prices. The rising gas prices that have resulted mean higher heating bills and higher electricity costs because natural gas is used to generate power, heat homes and run factories. With consumer prices in Germany rising by 10.9%, hitting double digits for the first time in decades, the government announced plans to spend up to 200 billion euros to help with surging gas bills in Europe’s largest single economy.

Energy Europe Russia Inflation Germany Gas Natural Gas Prices European Euro Cologne  spend  euro  hits  countries  energy  higher  rates  germany  inflation  record  19  using  prices  natural  food  gas  eu

History of this topic

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 …

European inflation eases to 2.6% as energy prices fall and food inflation slows
9 months, 3 weeks ago

European inflation eases to 2.6% as energy prices fall and food inflation slows

Associated Press  

FRANKFURT, Germany — The inflation that has ravaged the European economy eased again in February, falling to 2.6% as high interest rates, moderating oil and gas prices, and sluggish growth held back price increases in stores. The figure, closely watched by the European Central Bank as a measure of underlying inflation pressure in the economy, came in at 3.1%, down …

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 …

Europe’s inflation is up after months of decline. Could it delay interest rate cuts?
11 months, 2 weeks ago

Europe’s inflation is up after months of decline. Could it delay interest rate cuts?

Associated Press  

FRANKFURT, Germany — Inflation plaguing Europe rose to 2.9% in December, rebounding after seven straight monthly declines as food prices rose and support for high energy bills ended in some countries. The rise in price levels fueled debate over how soon interest rate cuts could be expected from the European Central Bank. The faster-than-expected fall in inflation over the last …

Europe’s economic outlook worsens as high prices plague consumer spending
1 year, 3 months ago

Europe’s economic outlook worsens as high prices plague consumer spending

Associated Press  

FRANKFURT, Germany — The European Union has lowered its forecast for economic growth this year and next, saying inflation is taking a heavy toll on people’s willingness to spend in shops — while higher interest rates are sharply restricting the credit needed for investment and purchases. EU Economy Commissioner Paolo Gentiloni said at a news conference that “further weakening in …

Europe’s inflation held steady in August as European Central Bank keeps an open mind on rates
1 year, 3 months ago

Europe’s inflation held steady in August as European Central Bank keeps an open mind on rates

Associated Press  

FRANKFURT, Germany — Annual inflation held steady in Europe in August as food prices raced ahead of falling fuel costs, but there was no clarity about whether the European Central Bank will pause its record series of interest rate hikes. European Central Bank President Christine Lagarde has said that the interest rate decision at the Sept. 14 policy meeting will …

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., …

Sharp rise in European gas prices, partly due to warm weather
1 year, 6 months ago

Sharp rise in European gas prices, partly due to warm weather

NL Times  

European gas prices rose sharply on Friday, partly due to warm weather in much of Europe leading to higher demand for electricity, for example for air conditioners and fans. Late last month, gas prices fell to their lowest level in nearly two years. The drop was caused by mild weather, increased liquefied natural gas imports and gas stocks that were …

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 inflation eases slightly but consumer pain persists
1 year, 9 months ago

Europe inflation eases slightly but consumer pain persists

Associated Press  

FRANKFURT, Germany — Inflation eased only slightly in the 20 countries that use the euro currency as the pain from higher costs for food and fuel persists and gives the European Central Bank no reason to slow interest rate increases aimed at getting prices back under control. Higher prices for natural gas, used to heat homes, run industrial processes and …

German energy boss warns: Don’t let guard down on gas supply
1 year, 10 months ago

German energy boss warns: Don’t let guard down on gas supply

Associated Press  

BONN, Germany — The temperature outside Klaus Mueller’s office almost resembles spring, exactly the kind of mild weather that helped Germany get through the winter without Russian natural gas. Mueller would only concede that he’s “optimistic” this winter will end without a further gas crunch, especially after Germany cut gas use by 14% in 2022 through lowering thermostats, switching to …

Moscow’s decades-old gas ties with Europe lie in ruins
1 year, 10 months ago

Moscow’s decades-old gas ties with Europe lie in ruins

Live Mint  

Meticulously crafted over decades as a major revenue stream for the Kremlin, Moscow's gas trade with Europe is unlikely to recover from the ravages of military conflict. After President Vladimir Putin's "special military operation" in Ukraine began almost a year ago, a combination of Western sanctions and Russia's decision to cut supplies to Europe drastically reduced the country's energy exports. …

EU foresees economy improving, but inflation still painful
1 year, 10 months ago

EU foresees economy improving, but inflation still painful

Associated Press  

FRANKFURT, Germany — The European Union’s executive branch has raised its economic growth forecast for the year, saying Europe will narrowly avoid a recession and has already passed its inflation peak as natural gas prices fall from astronomical highs. Prices for natural gas — used to heat homes, fuel industry and generate electricity — reached record levels last summer, rising …

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.” …

Europe has staved off energy collapse despite Russia’s gas cutoff. But is the crisis over?
1 year, 11 months ago

Europe has staved off energy collapse despite Russia’s gas cutoff. But is the crisis over?

LA Times  

Europe has dodged an energy apocalypse this winter, economists and officials say, thanks to unusually warm weather and efforts to find other sources of natural gas after Russia cut off most of its supply to the continent. In Germany, Europe’s largest economy, the government passed gas and electricity price caps allowing small businesses and consumers to buy 80% of their …

Europe has avoided energy collapse. But is the crisis over?
1 year, 11 months ago

Europe has avoided energy collapse. But is the crisis over?

Associated Press  

FRANKFURT, Germany — Europe has dodged an energy apocalypse this winter, economists and officials say, thanks to unusually warm weather and efforts to find other sources of natural gas after Russia cut off most of its supply to the continent. In Germany, Europe’s largest economy, the government passed gas and electric price caps allowing small businesses and consumers to buy …

Europe has avoided energy collapse. But is the crisis over?
1 year, 11 months ago

Europe has avoided energy collapse. But is the crisis over?

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. In Germany, Europe's largest economy, the government passed gas …

Europe needs clear-eyed view of US moves
1 year, 11 months ago

Europe needs clear-eyed view of US moves

China Daily  

A vehicle passes the building of the European Commission in Brussels, Belgium, Oct 18, 2022. The natural gas price in Europe once hit nearly €350 per megawatt-hour since the Russia-Ukraine conflict broke out. European energy ministers agreed on Dec 19 to impose a price cap if prices in the European Union's main trading centers remained above €180 per megawatt-hour for …

Ukraine war: Vladimir Putin has been weaponising energy for years. Here’s what to look for next
2 years ago

Ukraine war: Vladimir Putin has been weaponising energy for years. Here’s what to look for next

Firstpost  

Russia shifted its strategy to attrition, specifically targeting energy infrastructure, after failing to force a quick, decisive victory against Ukraine Not since the 1970s oil crisis has the West seen such a focus on energy security. Vladimir Putin’s regime had been using selective gas supply cuts as a pressure tool against Ukraine since at least the winter of 2005-06, when …

Which European nations are handling the energy crisis best?
2 years ago

Which European nations are handling the energy crisis best?

Al Jazeera  

France, Spain, Germany, Italy and Greece are doing some things right, but face challenging times ahead, say experts. An uneven risk Russia accounted for nearly half of Europe’s total natural gas imports in 2021, but some countries were always going to be more vulnerable than others. Challenges ahead Germany recently announced a new 200 billion euro package to deal with …

EU ministers fail again on gas price cap to contain costs
2 years ago

EU ministers fail again on gas price cap to contain costs

Associated Press  

BRUSSELS — European Union energy ministers failed yet again to overcome their deep differences Tuesday on a natural gas price cap that many hope would make utility bills cheaper so people can stay a little warmer during harsh winter days — if not this year, then later. One side is demanding a cap to push down gas prices for households …

Investors see shift in Europe’s fortunes
2 years ago

Investors see shift in Europe’s fortunes

Live Mint  

Investors are turning somewhat more positive on Europe, spurring a recovery in the region’s beaten-down stocks. Meanwhile, benchmark U.S. yields and the dollar have declined in recent weeks, helping lift riskier assets worldwide, as investors anticipate a slowdown in the Federal Reserve’s campaign to raise interest rates. Natural-gas prices have stabilized as Europe’s gas storage has risen above 95% due …

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 …

Europe's import of Russian gas jumps 42% amid Russia-Ukraine war: Report
2 years ago

Europe's import of Russian gas jumps 42% amid Russia-Ukraine war: Report

Hindustan Times  

The European Union witnessed a 42 percent increase in the imports of Russian Liquefied Natural Gas between January-October, compared to the same period last year, Financial Times reported. The report said that EU has imported 62.1 billion cubic meters of natural gas this year compared to 17.8 billion cubic meters last year. This comes as Lithuanian Foreign Minister Gabrielius Landsbergis …

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 …

EU nations fail to close rift on gas prices as cold sets in
2 years, 1 month ago

EU nations fail to close rift on gas prices as cold sets in

Associated Press  

BRUSSELS — On winter’s doorstep, European Union nations again failed to bridge bitter disagreements over a natural gas price cap Thursday as they struggle to effectively shield 450 million citizens from massive increases in their utility bills. “The discussion was quite heated, and you all know that there are very divergent views,” said Czech Industry Minister Jozef Síkela, who chaired …

European Central Bank: Recession ‘has become more likely’
2 years, 1 month ago

European Central Bank: Recession ‘has become more likely’

Associated Press  

FRANKFURT, Germany — The European Central Bank sees an increased likelihood of a recession in the 19 countries that use the euro currency, warning that soaring energy prices and high inflation fed by Russia’s war in Ukraine have raised risks for bank losses and turmoil on financial markets. As the bank released its twice-yearly assessment of eurozone financial stability on …

Europe urged to save natural gas to avoid shortage next year
2 years, 1 month ago

Europe urged to save natural gas to avoid shortage next year

Associated Press  

FRANKFURT, Germany — Europe could face a severe natural gas shortage next year and needs to act now to reduce use, the International Energy Agency said in a report Thursday, warning against complacency in an energy crisis triggered by Russia’s war in Ukraine after countries were able to build up storage of the fuel to heat homes and generate electricity …

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 …

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

Inflation hits new record in Europe, slowing economy

Associated Press  

FRANKFURT, Germany — 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. Economic growth also slowed ahead of what economists fear is a looming recession, largely as a result of those higher prices sapping Europeans’ ability to spend. Natural gas …

Inflation hits new record high of 10.7% in Europe, slowing economy
2 years, 1 month ago

Inflation hits new record high of 10.7% in Europe, slowing economy

India TV News  

Highlights Natural gas prices skyrocketed in the wake Russia's invasion of Ukraine A survey of professional forecasts showed expectations for inflation next year rose to 5.8 per cent The economy had showed growth of 0.2 per cent in the July-September quarter Inflation hit a new record in the 19 countries that use the euro currency, fuelled by out-of-control prices for …

Gas crunch eases in Europe — but the respite might not last
2 years, 1 month ago

Gas crunch eases in Europe — but the respite might not last

Associated Press  

FRANKFURT, Germany — Natural gas and electricity prices in Europe have plunged from summer peaks thanks to mild weather and a monthslong scramble to fill gas storage ahead of winter and replace Russian supplies during the war in Ukraine. The good news is natural gas prices on Europe’s TTF benchmark fell on Monday below 100 euros per megawatt-hour for the …

Ukraine War Fallout: Is Energy Crisis Imminent in Europe? - News18
2 years, 2 months ago

Ukraine War Fallout: Is Energy Crisis Imminent in Europe? - News18

News 18  

The Russia-Ukraine conflict, euphemistically called a “special military operation” by Russia when it launched the offensive, more than seven months ago was not expected to last more than a few days or weeks. Despite alarm bells from a January 2009 crisis that led to the disruption of Russian gas transiting through Ukraine for two weeks, and Russia’s annexation of Crimea …

EU response to energy crisis looms amid rising oil, gas prices
2 years, 2 months ago

EU response to energy crisis looms amid rising oil, gas prices

Al Jazeera  

Energy prices began soaring last year after the lifting of pandemic lockdowns, followed by Russia’s war in Ukraine this year. Energy prices – determined by the price of crude oil, natural gas and coal – began soaring last year as a result of COVID lockdowns being lifted, followed by Russia’s invasion of Ukraine this year. “Russia’s war on Ukraine has …

EU faces battle to keep energy prices from weakening economy
2 years, 2 months ago

EU faces battle to keep energy prices from weakening economy

LA Times  

European Union leaders enter a crucial stretch this week to make sure runaway energy prices and short supplies don’t further tank their struggling economies and foment unrest. Leading up to Thursday’s start of a key summit, the European Commission, the bloc’s executive branch, proposed a blueprint on Tuesday that needs to reconcile the yawning gap between those who want to …

Mint explainer: 3 takeaways from the IMF World Economic Outlook
2 years, 2 months ago

Mint explainer: 3 takeaways from the IMF World Economic Outlook

Live Mint  

Monetary policy will be critical in the global battle against inflation, the International Monetary Fund said in its latest World Economic Outlook report. Here are the key takeaways from the IMF report: The criticality of monetary policy “The global economy’s future health rests critically on the successful calibration of monetary policy," the IMF asserted, adding “ … monetary policy could …

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 …

Europe scrambling to cope with energy crisis as winter approaches
2 years, 2 months ago

Europe scrambling to cope with energy crisis as winter approaches

The Hindu  

Published : Oct 06, 2022 09:55 IST Travelling through Germany and Slovenia at the end of August, I found it hard to see the effects of the worst energy crisis that Europe has been undergoing in recent years—a combination of the effect of Russia ceasing gas supplies and the worst drought the continent has faced in 500 years. As one …

How bad could Europe’s energy crisis get this winter?
2 years, 2 months ago

How bad could Europe’s energy crisis get this winter?

Al Jazeera  

Gas prices have reached record highs in Europe, and supplies are running low, stoking fears for the coming winter. “Europe doesn’t have any supply of natural resources,” Adam Pankratz, a professor at the University of British Columbia’s Sauder School of Business, told Al Jazeera. However, the stability of the continent depends on having a relatively “normal” winter because if temperatures …

Inflation hits record 10% in 19 European Union countries
2 years, 2 months ago

Inflation hits record 10% in 19 European Union countries

The Hindu  

Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe's major economies as higher prices undermine consumers' spending power. The European Central Bank is raising interest rates to combat inflation by keeping higher prices from being baked into …

Germany: Recession clouds gather in Europe's largest economy
2 years, 2 months ago

Germany: Recession clouds gather in Europe's largest economy

Firstpost  

Germany’s key future indicator, the IFO survey of business confidence, pointed down for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing power and imposes heavy costs on businesses Frankfurt: Europe’s largest economy is sending recession signals. Germany’s key future indicator, the IFO survey of business confidence, pointed down for the …

Why Europe’s energy prices are spiraling out of control
2 years, 3 months ago

Why Europe’s energy prices are spiraling out of control

Al Jazeera  

As the price of electricity skyrockets, people in the UK and EU are trying to find ways to cope. Halla Mohieddeen: Whether it’s in the UK, where wide swathes of people wonder if they can pay their bills Newsreel: An enormous number of families up and down the country in food and fuel poverty. So we’ve got, we’ve got, we’ll …

Watch | How is Russia choking Europe’s energy needs?
2 years, 3 months ago

Watch | How is Russia choking Europe’s energy needs?

The Hindu  

An energy crisis is brewing in Europe. A major reason behind this is Russia shutting the Nord Stream 1 pipeline – a cheap natural gas supply that Europe depended on for years. Nord Stream is an export gas pipeline which runs under the Baltic Sea, carrying gas from Russia to Europe It bypasses transit countries, making it highly reliable for …

European Union ministers fast-track 'unprecedented' measures to solve energy price shock
2 years, 3 months ago

European Union ministers fast-track 'unprecedented' measures to solve energy price shock

Firstpost  

Moscow’s invasion has seen the price of natural gas hit record levels, throwing the EU economy into deep uncertainty, with all eyes on whether Russian President Vladimir Putin will cut off the flow entirely Brussels, Belgium: The EU executive pledged Friday to come up with unprecedented measures in the coming days to solve an energy price shock triggered by Russia’s …

EU nations struggle to find joint approach on energy prices
2 years, 3 months ago

EU nations struggle to find joint approach on energy prices

Associated Press  

BRUSSELS — European Union nations struggled to find full consensus Friday on ways to shield the population from dramatically increasing energy prices that threaten to plunge millions into cold and poverty over the winter as Russia chokes off natural gas supplies. While EU members are most interested in lowering prices and getting enough gas, “the commission aimed at limiting Russia’s …

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