The annual rate of consumer price inflation in the Organisation for Economic Co-operation and Development (OECD) countries accelerated to 4.5% in October, up from 4.4% in the previous month. Before that, inflation had been weakening for four consecutive months. The report said price increases strengthened in 16 countries and slowed in 14 in October. Energy…
Europeans fear that a volatile trade environment will emerge in the United States after Donald Trump’s re-election. They are not ruling out protectionism and higher prices for European products. The EU is ready to work with Washington. The bloc sought to demonstrate this unity at a meeting of trade ministers in Brussels on Thursday. European…
Romania’s coalition government will raise the monthly minimum wage by 9.5% to 4,050 Romanian lei starting in January, according to a statement released by Romanian Prime Minister Marcel Cholaku after meeting with employers and unions. This is equivalent to approximately $884.61. For information, presidential and parliamentary elections are planned in Romania in November and December….
The French government is preparing a temporary increase in taxes for large companies and wealthy individuals as part of a plan to reduce the budget deficit. The country’s authorities are planning spending cuts and tax increases of around 60 billion euros in 2025, and expect to reduce the budget deficit to 5% of GDP from…
To tackle over-tourism and encourage local residency, Venice is set to increase its entrance fee to the city’s historic center. The fee, initially introduced at 5 euros in April, will rise to 10 euros starting in 2025. This increase is part of a broader strategy by city officials to manage the impact of high visitor…
In May 2024, Germany’s consumer prices, harmonized with EU standards, experienced a year-on-year increase of 2.8%, according to preliminary data from the Federal Statistical Service (Destatis). This marks an acceleration from April’s 2.4% rise. Every month, consumer prices grew by 0.2% in May, following a more substantial 0.6% increase in April. These figures surpassed analysts’…
In a testament to Germany’s economic resilience, the index of German business confidence has experienced a notable uptick for the third consecutive month, soaring to its highest level since May 2023. The latest data, compiled by the Munich Institute of Economic Research Ifo, reveals a surge in confidence, with the indicator climbing to 89.4 points…
Italy will levy a tax on banks with up to value in the coming months. In Italy, banks will be taxed at 40% already this year, in case of high profits. Deputy Prime Minister and Infrastructure Minister Matteo Salvini said he would use the funds to help mortgagees and reduce taxes. This regulation, which according…
According to the Statistical Service of the European Union, among the most expensive EU countries, the difference between the prices of services and consumer goods, including food, remains in 27 states of the Union. Last year, the topper on the list of the most expensive EU countries was Ireland, where the cost of living was…
Beyonce Effect has been affected due to Inflation in Sweden, which rose to 9.7% in May, marking the first time in six months that the indicator fell below the double-digit threshold. However, it still surpassed the expectations of experts, causing concerns within the economic landscape. Danske Bank economists have identified an unexpected factor influencing inflation:…
