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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.

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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?

Markets

Wake up and smell the coffee but where's the best value espresso?

Coffee prices continue to rise in the continent but at a considerably slower rate than last year's double-digit price hikes.

Economy

Commission forecasts inflation tumbling, despite oil price hike

Inflation could be just 2.2% in the EU next year, as voters cite concerns over rising prices.

Economy

Inflation rate in Hungary edges up slightly to 3.7% in April

After 14 months of decline, the rate of inflation in Hungary rose again.

Economy

Poland keeps rates unchanged despite softening economy

Despite a fall in inflation, Poland's central bank governor remains concerned it could reignite because of higher food taxes and the potential removal of energy price limits.

Economy

Turkey inflation hits almost 70% in April dampening any rate cut hopes

Turkey’s inflation accelerated to 69.8% annually for the month of April, according to latest data from the Turkish Statistical Institute.

Economy

Eurozone growth tops estimates as April inflation holds steady at 2.6%

Eurozone economy grew by 0.3% in the first quarter of 2024, beating expectations and marking the strongest growth since Q3 2022. Annual inflation remained stable at 2.4%, while core inflation slowed to 2.7%, likely clearing the path towards the first ECB rate cut in June.

Economy

Looking forward to a relaxing retirement? Then start saving fast

More than one third of Europeans are still not saving enough for retirement, with about 40% saying that the current economic climate had eroded their pension contributions.