inflation
Prices in Hungary picked up slightly in April, after declining for more than a year; the annual inflation was 3.7% from an over 3-year low of 3.6% in the previous month, according to the Hungarian Central Statistical Office. Compared to March, prices increased by 0.7%, easing from a 0.8% rise previously. In a yearly comparison, services became 9.5% more expensive, within which rents were up by 14%. Motor fuel prices cost 6.6% more than a year ago, and 3.5% more than in the previous month. Where in Europe was unemployment the lowest in March? Hungarian inflation falls to two-year low in January...
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Poland's central bank is expected to keep interest rates unchanged at 5.75% for the seventh consecutive meeting, a Bloomberg survey of 27 economists has revealed. Central Bank Governor Adam Glapinski said last month that he would not cut borrowing costs, citing concerns about a potential rise in inflation because of higher food taxes and the potential removal of energy price limits. Poland's annual inflation rate fell in March, dropping to 1.9% from the previous month's 2.8% and beating market expectations of 2.2%. However, the Monetary Policy Council (MPC) highlights "substantial uncertainty"...
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The country's annual consumer price inflation climbed close to 70% last month, just slightly below expectations. However, it marked the highest rate since November 2022 due to strong price increases in education, restaurant and hotels prices. Weekly market recap: Mixed trends amid macro signals and earnings seasonFinance minister, Mehmet Simsek, commented on the data to Reuters and said April's month-on-month inflation, which was 3.18%, was in line with expectations. In March it was at 3.16%. "After annual inflation reaches its peak in May, it will begin to decline sharply in line with our pre...
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Economic growth in the eurozone exceeded economists' expectations in the first quarter of the year, while the annual inflation rate for April demonstrated stable performance compared to the previous month. This halted the downward trend that began in January, but it also provided some encouraging signs for an anticipated European Central Bank (ECB) rate cut in June. According to flash estimates from Eurostat released on Tuesday, the annualised gross domestic product growth in the eurozone was 0.3% in the first quarter of 2024 compared to the final quarter of 2023. This marks a significant impr...
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As the cost of living crisis continues to sweep through most European countries, several workers have seen their savings and pensions erode, including retirement savings. This has also led to many being forced to increase their retirement ages, in order to make up the gap and be able to stay afloat in an increasingly uncertain economy. A new study by AgeCalculator.com, using Organisation for Economic Cooperation and Development (OECD) data gathered from between 2000 and 2020, shows that retirement ages in several European countries have risen significantly during this period. Bulgaria takes th...
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The Spanish year-on-year inflation report for April 2024 released early on Monday showed a rise of 3.3%, according to the National Statistics Institute (INE). This was a slight raise from March's 3.2%, as well as being the highest figure in three months. However, it was still below analyst estimates of 3.4%. The spike in inflation was primarily because of increases in food and gas costs, although falling electricity prices did go some way towards offsetting the effect of rising prices. Year-on-year core inflation, which does not take into account energy and food prices, due to their inherent v...
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The financial markets are poised for a bustling week ahead, featuring the Eurozone's flash CPI, the Fed's interest rate decision, and the US non-farm payroll report. The Eurozone's inflation figures will shape the European Central Bank's interest rate outlook, while the Fed's commentary on monetary policy holds significance for the global market's direction. Moreover, earnings season continues with reports from HSBC, Amazon, and Apple, providing insights into the health of international firms. EuropeThis week, all eyes in the market will be on the estimated April Consumer Price Index (CPI) for...
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A third of Europeans do not understand how inflation works, according to a survey by Eurobarometer. The same survey revealed only 18% of EU citizens were able to show a high level of financial literary. According to the survey, 65% of EU citizens are aware that, in times of positive inflation, the purchasing power of their money decreases, meaning they can buy less than they could before with the same amount of money. Lack of knowledge about inflation could be seen as concerningIn October 2022, the annual inflation in the EU reached levels not seen before in the previous four decades at 11.5%....
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The "pink tax" is not a legal tax, but rather a surcharge or markup on products traditionally marketed towards women, while typically the male version of the same products are less expensive. This can be seen in personal care items such as shampoos, razors, deodorants and more, as well as clothing, shoes and toys, amongst others. Services such as haircuts, car repairs and maintenance, dry cleaning are also affected. Although the pink tax has been spoken about ever since the 1990s, if not earlier, it was taken more seriously in 2015, following the Department of Consumer Affairs in New York City...
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An increasing number of low-income Europeans are expecting to be late paying key bills over the coming months because of a rise in interest rates, rents and utilities costs, according to research by the European Central Bank (ECB). "The ability of households to meet their housing-related costs and mortgage payments is a source of concern, especially for lower-income households," the researchers wrote in an ECB economic bulletin article providing a snapshot of the "household housing burden" in the largest 11 eurozone economies. Since the ECB started to raise interest rate in July 2022, overall ...
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