Inflation

The global surge in inflation from the “double whammy” of pandemic-related disruption and the Russian invasion of Ukraine has punished consumers in Europe over the past two years, with one “casualty” in Greece being the country’s iconic “souvlaki”, alternatively known the world over as “gyro”. According to market watchers in the country, the price of […]

Only people in Paris, Berlin and Brussels pay more

56 percent of respondents said they've dipped into savings to pay monthly bills

Rise Attributed to Higher Food Prices

IMF Projects Global Inflation to Stand at 6.9 Percent in 2023

Figure double than the annual rate recorded in previous month, Sept. 2023

More ominously, the category “foods, alcohol and tobacco” – with foodstuffs dominating interest – was almost double than the overall rate, which totaled 7.5 percent.

OECD Chief Economist Clare Lombardelli foresees an easing of inflation near set targets in most countries by the end of next year, while calling on EU monetary policy-makers to carefully consider decisions that don’t jeopardize growth but at the same time restrict rising prices. As per Greece, she reiterated the OECD’s forecast of ‘robust growth’, […]