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Money

Don’t panic over economy woes just yet, says ex-World Bank chief

The Ukraine war has sent inflation and gas prices spiralling. We spoke to ex-World Bank chief Bertrand Badré about how to prevent global inequality.

Economy

Europe's week: EU economic woes mount & Ukraine war crimes commitment

Here are the top stories from Brussels this past week.

Economy

Annual inflation across the eurozone will peak at 7.6% in 2022

The Ukraine war and the disruption of energy and food markets continue to increase inflationary pressures.

Hungary

Hungarians protest for second day against tax overhaul

Thousands of Hungarians protested against Prime Minister Viktor Orban's government on Wednesday, in the second day of anti-government rallies after lawmakers fast-tracked legislation sharply raising taxes for small firms.

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Economy

Eurozone finance ministers discuss soaring inflation and energy prices

Skyrocketing inflation is "a fact of life" exacerbated by the war in Ukraine, said Sigrid Kaag, the Netherlands' finance minister.

Sri Lanka

Sri Lanka protesters vow to stay in president's home until he quits

President Gotabaya Rajapaksa has said he will stand down on Wednesday but demonstrators say they are determined not to leave his residence until that happens.

Europe News

Belgian consumers struggle as supermarket prices keep rising

Belgium's inflation rose to 10% in June, which makes it difficult for shoppers on a budget to fill their shopping carts when buying groceries.

Economy

Inflation in the eurozone reaches new record high of 8.6%

Soaring energy prices are still the main driver behind inflation, but fresh food is also becoming more expensive.

Europe News

Croatia to officially join eurozone as EU summit wraps

EU leaders turned their attention to the cost of living crisis and food security today.

Germany

Food bank demand rising in Germany amid record-high inflation

"Sometimes when I get home after going to the supermarket, I almost start crying, because I can't buy anything anymore."

Ireland

Protests held across Ireland as inflation reaches four-decade high

Irish union members, pensioners, opposition parties and others took to the streets across the country on Saturday to express their anger at the rising living costs.

Euronews Witness

Queues return to Greek soup kitchens as inflation takes its toll

First, the financial crisis played havoc with Greece. Then the pandemic showed up. And now: inflation. will Greeks manage to weather the storm again?

Money

What’s a bear market and should we worry about another global crash?

The US has fallen into a bear market thanks to the Ukraine war, supply-chain issues and a number of other factors. But what does this mean for investors?

USA

US Federal Reserve attacks inflation with largest rate hike since 1994

The Fed’s decision to raise its key interest rate by 0.75% is seen as an acknowledgement that it's struggling to curb inflation.

Economy

Eurozone to get its first interest rate hike in 11 years next month

The European Central Bank will hike interest rates in July in a bid to tame inflation.

Real Economy

How the war in Ukraine is hitting Europe's economy

In partnership with The European Commission

As food and energy prices soar, what next for Europe’s economy? Real Economy speaks to a leading economist about the economic fallout caused by Russia's war with Ukraine and heads to Germany to visit an aerospace firm attempting to cope with supply chain disruption.

Europe News

Poles told to gather firewood amid soaring energy prices

The government said it was taking steps to make it easier for people to collect firewood in an effort to ease the pressure created by sky-rocketing energy bills and shortages of coal.

This will impact your life

How is the Ukraine war affecting the cost of living crisis?

Russia's invasion of Ukraine has led to record-breaking inflation. But how is the war affecting the cost of living?

Tech News

Swedish 'buy now, pay later' firm Klarna to lay off 10% of staff

Klarna's CEO told staff in a pre-recorded video message: "What we are seeing now in the world is not temporary or short-lived, and hence we need to act".

Economy

Explained: Why higher gas costs lead to higher food prices

The connection partly lies in fertilisers, which require a great deal of gas to be produced.