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:…
According to the latest Regional Economic Prospects of the European Bank for Reconstruction and Development (EBRD), early estimates of quarterly gross domestic product (GDP) growth in 2022 are preliminary and may be revised. “Inflation may be on the decline, but it remains in double digits in more than three-quarters of the countries where we operate….
The International Monetary Fund (IMF) has released its latest forecast for the global economy, indicating a slightly lower economic growth outlook for the Eurozone in 2023. According to the IMF’s April estimate, the projected economic growth rate for the Eurozone stands at 0.8%, while the expected level of inflation is 5.3%. The IMF’s global economic…
The European Central Bank (ECB) has announced a further tightening of monetary policy in response to rising inflation. In a statement released today, the ECB cited the need to overcome increased inflation as the primary reason for the decision. As part of the policy shift, the European Central Bank committee has increased the refinancing rate…
Consumer prices or inflation in Germany rose by 9.2% in January. Inflation slowed down to 9.6% in December. The country’s Federal Statistical Management gives this data. The data aligned with the preliminary estimate and consensus of analysts polled by Bloomberg and Trade Economics. Why Inflation in Germany is Volatile: Consumer prices rose by 0.5% month-on-month,…
The European Union plans to include four Russian banks, including Alfa-Bank, in the new package of EU sanctions and ban the delivery of several goods to Russia. The new financial sanctions will affect four Russian banks, including the largest Alfa-Bank in Russia. In total, 130 individuals and legal entities are planned to be included in…
In order to overcome the sharply increased inflation, the European Central Bank decided to tighten the monetary policy. The ECB committee increased the refinancing rate by an additional 50 basis points, which is in line with the rate forecast by analysts. As a result of today’s decision, the main refinancing rate reached 2.0%. It’s worth…
Portugal may end its “Golden Visa” program, which granted residency to wealthy foreigners in return for investment. Prime Minister Antonio Costa announced the news at the Web Summit held in Lisbon. According to the Prime Minister, the program launched in Portugal in 2012 has already fulfilled its purpose, and the government will review the current…
At the end of September, a meeting of EU energy ministers is planned. They will discuss the current energy crisis. The European Commission is pushing forward the idea of imposing the so-called windfall tax, i.e. tax on windfall profits. This idea has been criticized by experts. On September 30, an extraordinary meeting of EU ministers…
