prices
Improving competitiveness (better conditions for businesses), cutting bureaucracy, protecting jobs and supporting the green transition are just a few of the key pledges from the party groups ahead of the European Parliament elections taking place 6-9 June. Turning on the economic growth engine in the continent for the next five years appears to be a complicated task. The current output is little more than zero and the outlook for the next years appears to be stark, according to the IMF which states: "Europe's medium-term growth prospects have been declining for some time." The last five years ...
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Electric cars will have to become cheaper in Europe, one of the key steps to avoid jeopardising the continent's 2050 climate goals, suggest the latest studies from the EU's external auditor. The European Court of Auditors (ECA) released an overview of its four recently published special reports, giving a stark warning to the EU about its current policies for decarbonising the transport sector (accounting for 25% of the overall CO2 emissions). To achieve net zero by 2050, the 27 member states have to significantly curtail carbon emissions from internal combustion engine (ICE) cars, find viable ...
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Tesla is to cut the price of some of its cars in an effort to combat declining sales and growing competition. Prices will be reduced in Germany - Tesla's biggest European market - and elsewhere in Europe as well as the Middle East and Africa, the company has revealed. In Germany, the cost of the Model 3 rear wheel drive will fall from €42,990 to €40,990. The news comes after the world's largest EV maker cut around a third off the price of its "Full Self Driving" system - which is not a self-drive which means drivers must remain alert and be ready to intervene - to $8,000 (€7,505) from $12,000 ...
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In March 2024, inflation in the euro area fell from 2.6% to 2.4%, as reported by Eurostat today, marking a four-month low and confirming preliminary data. The euro area comprises countries that use the euro as their national currency within the European Union. The main components contributing to inflation vary. In March, services saw the highest yearly increase, remaining at 4.0% compared to February. Following this, food, alcohol, and tobacco had a rate of 2.7%, down from 3.9% in the previous month. Non-energy industrial goods rose by 1.1%, a decrease from 1.6% in February, while energy price...
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Newly announced details of a post-Brexit border check system has drawn criticism from businesses and trade bodies in the UK, with a warning that it could inflate food prices and lead the closure of several small businesses. From 30 April this year, firms importing plants or animal products from the EU via the Port of Dover or Eurotunnel will have to pay up to £145 per consignment to cover the costs of a new border check. The post-Brexit measures are designed to preserve "effective biosecurity and public health systems," according to the UK government, which announced details of the charges of ...
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One of the countries hardest hit by a fall in property prices was Luxembourg where house prices slumped 14.4%, following a 13.9% fall in the preceding three months. Within the eurozone, average house prices were down by 1.1% in the last three months of 2023 compared with the year before, according to the House Price Index, an indicator by Eurostat. House prices for the European Union as a whole showed a slight climb of 0.2% increase for the year. The results show that average prices are not dropping as much as before - the same index was down 2.2% and 1.1% in the eurozone and the EU respective...
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Annual inflation slowed as prices rose 1% compared to the previous year in Switzerland, the Federal Statistical Office reported on Thursday. The rate of the price increase was less than expected and also slower than the 1.2% measured in the previous month. As a matter of fact, it was the slowest since September 2021, vindicating thesurprise rate cut from the Swiss National Bank (SNB) last month. Annual core inflation, excluding volatile items such as food and energy prices, also slowed to 1% from the previous 1.1%. Switzerland and Norway could invest $100 billion in IndiaPrices remained unchan...
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Cloiseau's Easter Egg collection is inspired by the Olympic Games, set to be hosted in Paris from Friday, July 26th until Sunday, August 11 this year. The work took thirty-five hours to make and features a huge central egg surrounded by a racetrack holding smaller eggs. The sculpture weighs 7.6 kg and the chocolates are available in stores and online across Paris. The €2500 price tag corresponds to the rising cost of Easter eggs across Europe. With the price of cocoa breaking a new record, the cost of Easter chocolates has risen an average of five per cent more this year. The cost of chocolate...
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Spanish inflation picked up in March, consumer prices rose by 3.2% compared to the previous year, following the previous month's 2.8%, according to a flash estimate from the National Statistics Institute (INE). The EU-harmonised CPI in Spain rose by 1.3% in March compared to the previous month, following a 0.4% increase in February. The higher inflation figures are mainly due to an increase in electricity and fuel prices, while the prices of food and non-alcoholic beverages increased at a slower pace than in the same month last year. However, core inflation, excluding food and energy, slowed t...
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Increased average temperatures could drive up annual food inflation by up to 3.2% per year and overall inflation by up to 1.18% per year by 2035, according to a fresh study by the Potsdam Institute for Climate Impact Research (PIK). In the study, the scientists looked at how climate factors such as high temperatures and extreme rainfall have affected inflation in historical data, but they did not take a separate look at which food items were likely to be most affected. "Looking at over 27,000 observations of historical data, we found that increases in temperatures can increase food prices, par...
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