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Economy

German inflation falls to its lowest level since start of Ukraine war

The inflation rate in Germany is expected to be 4.5% in September 2023.

Economy

The German GDP is shrinking by 0.6% this year

A new forecast expects the overall German economic output to contract this year, mainly due to a slower-than-expected recovery in the industry and private consumption.

Europe News

ECB interest rates to remain high for as long as needed - Lagarde

The President of the European Central Bank (ECB) Christine Lagarde signalled on Monday that borrowing costs may have reached their peak, but will remain high for as long as it takes to curb inflation.

Economy

Sweden's central bank ramps up key interest rate over high inflation

The moves comes on a busy day of central bank action in Europe, with the UK, Norwegian and Swiss central banks announcing or expected to announce whether they will amend their interest rates.

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Economy

Norway central bank pushes up interest rate, hinting at another hike in December

"Whether additional tightening will be needed depends on economic developments," said Norges Bank governor Ida Wolden Bache. "There will likely be one additional policy rate hike, most probably in December."

France

France to allow petrol to be sold at a loss in a bid to curb inflation

The Élysée wants to scrap the 1963 ban on selling fuel at a loss in order to curb rising inflation. Oil industry leaders have strongly condemned the move.

Economy

UK sees surprise fall in inflation

The decline was a surprise as most analysts had expected inflation in the UK to rise to 7%, but the new figure is still way above the Bank of England's target of 2%.

Economy

Eurozone inflation revised down to 5.2% in August

Despite the decrease, inflation still remains far above the European Central Bank's 2% objective.

Food and Drink

Less is more: Why French shoppers are angry over 'shrinkflation'

Ever heard about shrinkflation? It happens when manufacturer's make smaller product but fail to change prices. It's not a new practice but it's being increasingly noticed in France by consumers as costs rise for everyday foods and provisions.

Economy

ECB hikes interest rates again, despite threat of recession

The decision raises the ECB’s benchmark deposit rate to 4%, up drastically from minus 0.5% just a little more than a year ago and the highest since the euro was established in 1999.

Economy

EU economy loses momentum amid war, inflation and natural disasters

The European Commission has revised down its economic forecast, warning that stubbornly high prices for goods and services are "taking a heavier toll than expected."

Economy

Erdoğan now backs plan that includes raising interest rates: minister

Inflation in Turkey is running at nearly 60%, according to official figures, although independent economists say the real rate is much higher.

Economy

Inflation in Turkey jumps to 59%

Inflation reached 58.9% year-on-year in August in the country, the highest since December 2022, according to official data published on Monday.

Economy

Inflation in the eurozone shows no change: 5.3% in August

Inflation across the 20 countries that use the single currency remained stable in August at 5.3%, still far away from the 2% target of the European Central Bank.

World News

Euroviews. Europe has a productivity problem. It can be solved from space

Innovation in the sector has a beneficial knock-on effect in all of the numerous sectors it touches. To put it more simply, if the space sector flourishes, almost every other sector thrives, too, Bogdan Gogulan writes.

Work

Real wages are down in Europe: Which countries saw the biggest fall?

Real wages fell in most European countries after record-high inflation eroded most of the nominal wage growth. Which countries are worst impacted?

Business

Inflation slows down in France, UK economy grows by 0.2%

France's inflation dropped to 4.3% in July, the lowest level since February last year, while the UK economy has avoided stagnation, growing 0.2% between April and June.

Food and Drink

'Exploding costs': German beer sales go flat

More than 7.6 billion litres of beer were produced inside Germany last year, official figures show. That's equivalent to 91 litres per person.

Business

Eurozone returns to growth in the second quarter as inflation falls

Activity grew by 0.3% between April and June, while prices rose by 5.3% in July.

Economy

Eurozone inflation drops in July as growth accelerates

Inflation in the 20-country eurozone dropped to 5.3% in July, while GDP grew by 0.3% in the second quarter of 2023.