Weather
25 ° C
25°C
19°C
Sunny Intervals
Breaking News

6 Covid cases 17 June, 3 hospitalised, 1 in ICU, 35 home monitored, 2,473 recoveries, 33 deaths, 44 incidence rate, 54% eligible population vaccinated

Inflation up in Eurozone

Inflation up in Eurozone

By Stephanie Horsman - July 1, 2020

Inflation unexpectedly rose in June in the Eurozone, prompting fear among experts that consumer price growth will be stunted for several years after the economic calamity brought on by the Covid epidemic.

Annual inflation in June rose 0.3% in Eurozone countries after a four-year low of 0.1% was recorded the previous month, backing up the European Central Bank’s (ECB) belief that a negative reading may be avoided.  

Eurostat, the EU’s statistical data company, saw a drop in inflation to 1.1% from 1.2% when excluding energy and food prices, which at the moment are particularly unpredictable. Excluding tobacco and alcohol as well saw the drop go from 0.9% to 0.8%.

The European Central Bank has undershot the expected 2% rise in inflation for the last seven years and predicts they will do so through 2022 as the recession brought on by the pandemic gives rise to higher unemployment, depressed wage growth and lower overall consumption.

It was hoped that the huge government sponsored wage subsidies, which limited the effect on households who lost income during the lockdown, plus favourable monetary policies would make the economic impact less damaging. ECB projections suggest this will not be the case. They think that inflation could stay at or near nil for the duration of 2020 and will only see a pick up in the second quarter of 2021.

 

 

shares
SHARE
Previous articleFurther restrictions set to be lifted
Next article2020 hottest year so far on record

daily

June 17, 2021 | Business & Finance

MEB brings economic powerhouse to Monaco

Cassandra Tanti

One of the world’s top forecasters, Christophe Barraud, has told an audience of Monaco entrepreneurs what he predicts the global economic recovery will look like in 2021.

0
June 16, 2021 | Business & Finance

Mixed bag economically for first trimester

Stephanie Horsman

The first quarter of 2021 was marked by the pandemic in Monaco, but not to the extent of the previous year, according to IMSEE’s latest report.

0
June 14, 2021 | Business & Finance

Focus on Italian investors in new MEB agreement

Cassandra Tanti

The MEB and the Italian Chamber of Commerce in Nice have signed an agreement that will provide members with new local and international opportunities as the recovery takes off.  

0
June 8, 2021 | Business & Finance

ASM partners with Sokin in three-season deal

Cassandra Tanti

AS Monaco has announced that it is the first club in League 1 to partner with Sokin, a FinTech service that’s already well established in the Premier League.

0