Inflation

Easter Treats Get Pricier in Italy as Chocolate Eggs See Sharp Increases

Traditional Easter products in Italy are becoming noticeably more expensive this year, with chocolate eggs recording significant price increases while the classic “colomba” cake remains relatively stable. According to a…

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Eurozone inflation confirmed at 2.6%

The euro area annual inflation rate was 2.6% in May 2024, up from 2.4% in April, statistics body Eurostat reports – confirming its flash estimate at the end of May.…

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Central banks on brink of victory in inflation fight – BIS

Central banks are on the brink of victory in the fight to bring the global surge in inflation back under control, the Bank for International Settlements said on Monday. There…

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ECB’s Villeroy: Inflation is a disease, rates medicine starting to work

The European Central Bank will maintain its interest rates at 4% for a sufficiently long time in its bid to bring down inflation, ECB policymaker Francois Villeroy de Galhau said on…

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ECB chief economist says easing inflation welcome but must continue -report

European Central Bank Chief Economist Philip Lane expressed cautious optimism that inflation was slowing in an interview with an Irish business publication, but said a lot more data was needed…

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UK PM Sunak sees “light at the end of the tunnel” on inflation

British Prime Minister Rishi Sunak said there was "light at the end of the tunnel" for his government's plan to halve inflation, adding that progress had been made despite record wage growth reported…

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ECB to pause rate increases in September, say slim majority of economists

The European Central Bank will pause a more than year-long rate-hiking campaign in September, according to a narrow majority of economists polled by Reuters, but a further rise by year-end is…

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UK inflation slows sharply, offering some relief to Bank of England

CPI +7.9% vs Reuters poll +8.2% Core inflation also falls to +6.9% vs poll +7.1% UK still has higher inflation than many other countries Sterling falls as data ease pressure…

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Euro zone underlying inflation finally easing: ECB’s de Guindos

Underlying price pressures in the euro zone, a key focus for European Central Bank policymakers, are finally easing and past rate hikes have started to work their way through the economy, ECB…

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Italy says ECB war against inflation will hit growth

Interest rate rises set by the European Central Bank (ECB) to curb inflation will take their toll in terms of lower economic growth, Economy Minister Giancarlo Giorgetti said on Monday.…

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Why is UK food inflation so stubbornly high?

By James Davey LONDON (Reuters) - Bank of England Governor Andrew Bailey said this week that British food price inflation had been slower to drop than global commodity prices, despite…

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Spain won’t reinstate VAT on basic foods until price rises ease – minister

MADRID, June 12 (Reuters) - Spain will not reinstate the value-added tax (VAT) on essential food until price levels are "more appropriate", Economy Minister Nadia Calvino said on Monday, adding that a…

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UK inflation falls by less than expected, core inflation jumps

By Andy Bruce LONDON, May 24 (Reuters) - Britain's high inflation rate fell by less than expected in April and a closely watched core measure of price growth surged to…

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Six major central banks increased interest rates in March

The pace of interest rate hikes by major developed and emerging market central banks continued at a healthy clip in March though the scale of rises tapered off somewhat as…

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More food shortages could add to Britain’s price pressure

Britons already reeling from the biggest rise in food prices since 1977 may have to get used to shortages of fresh vegetables as soaring costs and unpredictable weather hit domestic…

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ECB’s Villeroy sees inflation peak in first half of year, no risk of recession

Inflation is likely to reach its peak in the first half of the year and, barring a major world event, the risk of recession could be ruled out, French European…

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ECB survey shows rising inflation expectations despite energy price falls

Euro zone consumer expectations for inflation edged up again in December, a European Central Bank survey showed on Tuesday, indicating that recent interest rate hikes and falling energy prices have not yet tempered…

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Traders see inflation falling this year – JPMorgan survey

By Naomi Rovnick LONDON (Reuters) - Most traders believe global inflation has peaked, while potential recession has emerged as the main risk to markets this year, according to a survey…

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Nestle to hike food prices further in 2023, CEO says

Feb 4 (Reuters) - Nestle NESN.S will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief…

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UK’s Hunt pledges to boost growth but won’t budge on tax hikes

British finance minister Jeremy Hunt promised on Friday to tackle the country's weak productivity with post-Brexit reforms to boost growth, but signalled that he would stick to tax rises that…

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UK inflation drops to 3-month low of 10.5% in December

By David Milliken LONDON, Jan 18 (Reuters) - British consumer price inflation fell to a three-month low of 10.5% in December, offering some comfort to the Bank of England and…

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Euro zone inflation falls sharply in December but offers ECB little respite

Euro zone inflation tumbled by more than expected last month but underlying price pressures rose, making it likely the European Central Bank will continue raising interest rates for months to come.…

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World food prices hit record high in 2022

A surge in the cost of most food commodities last year, as the disruption caused by Russia's invasion of Ukraine raised concerns of shortages, sent the U.N. food agency's average…

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Spain announces $10.6 bln package to ease inflation pain

MADRID, Dec 27 (Reuters) - Spain on Tuesday announced 10 billion euros ($10.65 billion) worth of measures to ease the pain of inflation in the third major package this year, bringing total aid to 45 billion euros since…

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Food should not be treated as a financial asset – EESC

The global food price crisis has only been exacerbated by the war in Ukraine. It is actually due to more structural and systemic problems in the commodities market, creating hunger…

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‘The worst is yet to come’: the curse of high inflation

By Mark John (Reuters) - Globally, people are experiencing inflation at levels not seen for decades as prices surge for essentials like food, heating, transport and accommodation. And though a…

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UK inflation falls from 41-year high

By David Milliken LONDON, Dec 14 (Reuters) - British inflation fell more sharply than expected in November to 10.7% from October's 41-year high of 11.1%, according to official consumer prices…

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Euro zone banks could take big hit from inflation income drain, ECB says

Euro zone banks may see a surge in soured loans as rapid inflation and rising interest rates hit household incomes, particularly among the bloc's poorest, the European Central Bank said…

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Euro area annual inflation up to 10.7%

Euro area annual inflation is expected to be 10.7% in October 2022, up from 9.9% in September according to aflash estimate from Eurostat, the statistical office of the European Union.…

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ECB must keep raising rates even if recession risks rise, Lagarde says

The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a euro zone recession has increased, ECB President Christine Lagarde said in an interview…

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ECB boss pledges to MEPs to fight inflation and restore confidence

Members of the European Parliament voiced concerns about rising energy and food prices, and mortgage rates during a hearing with European Central Bank President Christine Lagarde. MEPs in the Economic…

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Women expect higher inflation than men, driven by food costs: ECB study

FRANKFURT, (Reuters) - Women expect higher inflation then men and their outlook is primarily driven by food costs, a European Central Bank study found this week, a potential concern for…

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Portugal rolls out number of measures to help families fight inflation

Portugal's government on Monday rolled out additional measures worth 2.4 billion euros ($2.38 billion) to help families cope with soaring inflation, following similar announcements in other European countries in recent weeks.…

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FACTBOX – Government measures around the world to ease inflation pain

Sept 5 (Reuters) - Pandemic-related disruption to global supply chains and the knock-on effects of Russia's war in Ukraine have combined to drive up prices of energy, commodities and basic…

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UK shop price inflation jumps to 5.1% in July – BRC

LONDON, Aug 31 (Reuters) - Shops and supermarkets in Britain increased prices by 5.1% in the 12 months to August, the largest rise in records dating back to 2005, reflecting…

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Pain of controlling inflation will reverberate around the globe

The message from the world's top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession…

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French retailer Carrefour to freeze prices on 100 products to tackle inflation

French supermarket retailer Carrefour is freezing prices on 100 everyday products from tinned sardines to rice and washing up liquid, it said on Monday, joining other companies striving to help…

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UK government told to act now over cost of living crisis

The British government came under pressure on Monday to set out plans immediately to support families through a mounting cost of living crisis, with a leading business group and former prime minister…

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Italy has $14.5 billion firepower for anti-inflation package

Italy plans to spend an additional 14.3 billion euros ($14.5 billion) to shield firms and families from surging energy costs and consumer prices in what will be one of the last…

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IMF cuts global growth forecasts, warns high inflation threatens recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy…

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Spain to slap temporary taxes on banks, power companies, PM says

Spain will hit power companies and banks with temporary taxes that should rake in 7 billion euros ($7.02 billion) in 2023-2024 to help Spaniards cope with soaring inflation, the government…

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UK retailers see biggest squeeze since pandemic as inflation bites

British shoppers cut back on spending for the third month in a row and sales volumes fell by the most since they were hit hard by the COVID-19 pandemic as…

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Swedish cenbank prioritising anti-inflation fight over growth

STOCKHOLM, July 11 (Reuters) - Sweden's central bank will prioritize bringing down inflation over risks to growth, rate-setters said in the minutes of its most recent policy meeting, published on Monday. At…

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Swiss inflation in June tops 3%, highest since 2008

ZURICH, July 4 (Reuters) - Swiss consumer prices rose 3.4% in June, more than economists had expected and the first time inflation in Switzerland has topped 3% since July 2008. The reading…

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French inflation in June hit record high of 6.5% – preliminary figures

PARIS, June 30 (Reuters) - French inflation climbed further from the previous month to a record high of 6.5%, according to official preliminary figures on Thursday, adding further headwinds to the euro…

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Portugal’s June inflation rise at fastest pace in 30 years

LISBON, June 30 (Reuters) - Portuguese consumer prices jumped 8.7% year-on-year in June, at their fastest pace since December 1992, up from 8% in May, flash data from the National Statistics Institute…

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Sky-high cost of ageing ships sounds inflation SOS

Shipping companies are transforming rust buckets into gold mines in a modern-day alchemy that could fuel already rampant inflation for years to come. The disruption to world trade caused by pandemic lockdowns…

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Countries would implement minimum corporate tax to avoid revenue loss, says US Treasury Sec

U.S. Treasury Secretary Janet Yellen said on Monday that once some countries start implementing a global minimum tax on multi-national companies, other countries with a lower corporate tax rate would…

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Brussels at near-standstill as cost-of-living march draws 70,000

Around 70,000 Belgian workers marched through Brussels on Monday demanding government action to tackle sharply rising living costs, as one-day strikes at Brussels Airport and on local transport networks nationwide…

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Food inflation tops 10% in May

In May 2022, the annual rate of inflation as measured by the HICP was 5.8%, up from 5.4 % in April 2022. The 12-month moving average rate for May stood…

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Eurozone inflation hits new record of 8.1% as energy costs soar

Euro zone inflation rose to yet another record high in May, challenging the European Central Bank view that gradual interest rate increases from July will be enough to tame stubbornly high price…

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Bezos and White House battle over taxes and inflation

The White House and Amazon.com Inc founder Jeff Bezos squared off on Monday over the Biden administration's handling of U.S. inflation and its plans to tax the rich. Starting over the weekend,…

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From coffee to ketchup, retailers seek price ‘shields’ as inflation runs riot

LONDON/NEW YORK, (Reuters) - As shoppers pay more for anything from coffee to ketchup, some retailers have started to cut or cap the price of hundreds of products as they compete for…

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Record French inflation adds to pressure on Macron

PARIS, April 29 (Reuters) - French inflation jumped to a record high in April, driven by surging energy prices, preliminary data showed on Friday, putting pressure on newly re-elected president Emmanuel Macron…

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UK executives expect high inflation to squeeze profits – Deloitte

More than seven out of 10 chief financial officers (CFOs) at Britain's biggest companies expect high inflation to reduce their profit margins, and few see the Bank of England getting…

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Swedish inflation highest since early 1990s in March

STOCKHOLM, April 14 (Reuters) - Headline inflation hit its highest level in more than three decades in March as the war in Ukraine pushed up food and fuel prices, data showed on…

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ECB sees inflation stabilising around 2% target: Lane

FRANKFURT, March 31 (Reuters) - Euro zone inflation is increasingly likely to stabilise around 2% but the European Central Bank should be ready to change course if the outlook deteriorates due to Russia's war in Ukraine, ECB chief…

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