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Economy

Hungary moves on interest rate as inflation creeps up

A further reduction comes on the back of more than a year of rate cuts, although a drop in the forint is curtailing dramatic changes.

Economy

French inflation up in May driven by higher energy and food prices

French inflation inched up to 2.3% in May. Increases in food prices and energy costs contributed to this higher figure. However, services inflation softened over the same period.

Economy

Inflation in Spain rises to 3.6% in May driven by the cost of housing

Inflation rise in Spain: housing costs, transport and fuel price rises are the main drivers. However, the price of food and non-alcoholic beverages dropped in May 2024.

Economy

German inflation on the rise again for the first time in five months

Increases in services and food costs contributed significantly to May's rise in German inflation, although energy prices continued to fall.

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Economy

UK long-term sickness record rise fuels fears over economic growth

Long-term sickness leads to a growing number of people who are neither working nor looking for a job, known as economically inactive. This poses a significant risk to economic growth.

Economy

Eurozone economy growth thanks to increased household spending

In the first quarter of 2024, the eurozone economy grew by 0.3% compared with the previous quarter, according to the third estimate published by Eurostat, the statistical office of the European Union.

Economy

ECB delivers a “hawkish” rate cut, Lagarde stresses data dependency

The ECB reduced interest rates by 25 basis points, signalling a moderation in monetary policy restrictions. However, Frankfurt also issued an upward revision to its inflation projections, now expecting headline inflation to average 2.5% in 2024 and 2.2% in 2025.

Economy

Germany announces €23 billion tax cuts to help inflation-hit household

The coalition government set aside week's of disagreement to agree the tax cuts package. However, the move has already seen a considerable backlash, with opposing political parties arguing that tax cuts will heap yet more pressure on Germany’s already strained budget.

Travel News

Schengen visas will be more expensive from 11 June

The European Commission has blamed the price hike on inflation in member states.

Economy

Eurozone inflation accelerates in May: Are ECB rate cuts in doubt?

The harmonised index of consumer prices rose by 2.6% year-on-year in May, surpassing forecasts. Core inflation also increased to 2.9%. This comes as the European Central Bank (ECB) prepares for a potential rate cut on June 6.

Economy

Spanish inflation rises for third consecutive month after VAT hike

A jump in electricity prices linked to higher VAT rates is pushing up inflation in Spain. Upticks are being seen across the eurozone, although the causes are varied.

Economy

WEF: Economic outlook improves for 2024, but geopolitical woes remain

Although the United States and Asia are expected to see decent growth, European prospects remain bleak.

Economy

German inflation rises as consumer confidence hits 2-year high

Germany's annual inflation rose to 2.4% in May, matching forecasts, while the core rate held at 3.0%. Consumer sentiment improved to an over 2-year high as market watchers anticipate an ECB interest rate cut in June.

Economy

Fresh hint that ECB might be set to cut interest rates at June meeting

Eurozone inflation has dropped from above 10% at its 2022 peak to a near three-year low of 2.4% in April. Forecasts see a rise to 2.5% when May's data comes out later this week.

Markets

Ahead in the market: All eyes remain focused on inflation

This week, investors will focus on inflation data from the major Eurozone economies, seeking clues about the interest rate path of the European Central Bank (ECB).

Economy

Shoppers hit by rising prices as costs soar over past five years

Items such as olive oil, baked beans and sugar have risen particularly steeply with adverse weather, geopolitical concerns and global inflation contributing to the rise.

Economy

German economy expands slightly in first quarter of 2024

Increases in foreign trade has also gone a long way in supporting this higher GDP figure. However, despite falling inflation, German consumers remain cautious when it comes to spending.

Economy

April showers dampen UK retail sales as shoppers stay indoors

The removal of non-food sales, such as furniture, clothing and footwear, was one reason for the disappointing figure.

Economy

UK inflation slows less than predicted: Is a summer rate cut in doubt?

UK inflation slowed to 2.3% in April 2024, the lowest since July 2021, down from 3.2% in March, but missed the predicted drop to 2.1%. Core inflation, excluding energy, food, alcohol, and tobacco, rose by 3.9% year-on-year, above expectations.

Economy

Beyond the peak: How has the inflation crisis shaped the UK economy?

UK inflation data due on Wednesday is expected to fall close to the government’s 2% target. Almost three years on from the start of price spikes, how has the economy changed?