Eurozone inflation drops to 2.9% in third quarter
04 November 2023 | 2:42 pm
Consumer price inflation in the eurozone has slowed to its lowest level since July 2021. But the sluggish performance of the German economy contributed to the eurozone's economy shrinking by 0.1%.
May 17, 2023
Lebanese olive oil has become unaffordable for many in the crisis-ridden country. As inflation bites and the US dollar reigns supreme, poorer people are forced to part with their traditional local diet.
The Hungarian forint is up 10% against the US dollar this year, with the Czech koruna, Polish zloty and Romanian leu not far away. What is behind the recent boost to the Eastern European currencies and will it last?
Inflation is finally cooling in the US. But has the Federal Reserve really reached the end of its rate hikes? And what does that mean for other central banks? We speak to Susannah Streeter, Head of Money and Markets at Hargreaves Lansdown.
Sky-high inflation and a plunging lira continue to be at the forefront of Turkish voters' minds as the country appears set for a runoff election between President Recep Tayyip Erdogan and his challenger Kemal Kilicdaroglu. Erdogan's unorthodox economic theories have unnerved investors and analysts as he contradicts mainstream methods to tame the country's cost-of-living crisis.
German consumers are looking less concerned when shopping for groceries these days, as prices for food have begun falling slowly. But is peak inflation behind them?
The annual inflation rate in the Eurozone dipped sharply in May to 6.1 percent, its lowest level since Russia invaded Ukraine last year. Despite this, European Central Bank Chief Christine Lagarde hinted at further, more gradual interest rate hikes to bring inflation down to its target of 2 percent.
The Reserve Bank of India has left the benchmark repo rate unchanged at 6.5% as inflationary pressures ease. However, the bank warned some risks remain.
Two consecutive quarters of contraction have placed the eurozone economy into recession.
Food prices have almost doubled within a year, and increasing numbers of retired people are falling below the poverty line. Meanwhile, the government continues to invest heavily in the arms industry.
The latest El Nino climate phenomenon has arrived, threatening floods in some areas of the world and droughts in others. Previous disruptive weather patterns cost the global economy trillions and stoked inflation.
Annual inflation dropped to 5.5% in the 20 eurozone countries. However, the European Central Bank is still expected to raise interest rates in July.
African currencies have lost ground against the US dollar this year, further driving inflation in the import-reliant region. Depleting dollar reserves have left policymakers with limited options to arrest the decline.
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