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Inflation is forecast to come in at 2.1% next year, just above the European Central Bank's target of 2% and a substantial relief from the peak of 10.6% recorded in October 2022. Germany, the ...
The enlargement of the eurozone is an ongoing process within the European Union (EU).All member states of the European Union, except Denmark which negotiated an opt-out from the provisions, are obliged to adopt the euro as their sole currency once they meet the criteria, which include: complying with the debt and deficit criteria outlined by the Stability and Growth Pact, keeping inflation and ...
Eurozone inflation ticked up more than expected in May, to 2.6% from 2.4% the previous month. Core inflation, which strips out volatile food and energy prices, also accelerated as wages grew rapidly.
With inflation falling to 0.5% in May 2014, the ECB again took measures to stimulate the eurozone economy, which grew at just 0.2% during the first quarter of 2014. [308] (Deflation or very low inflation encourages holding cash, causing a decrease in purchases).
The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). It is a consumer price index which is compiled according to a methodology that has been harmonised across EU countries. The euro area HICP is a weighted average of price indices of member states who have adopted ...
Since the financial crisis of 2007–2008, the eurozone has established and used provisions for granting emergency loans to member states in return for enacting economic reforms. [15] The eurozone has also enacted some limited fiscal integration; for example, in peer review of each other's national budgets. The issue is political and in a state ...
The EU has a long-term budget, named Multiannual Financial Framework (MFF), of €1,082.5 billion for the period 2014–2020, representing 1.02% of the EU-28's GNI. [51]The overall budget for the period 2021-2027 is of €1.8 trillion combining the MFF of €1,074.3 billion with an extraordinary recovery fund of €750 billion, known as Next Generation EU, to support member states hit by the ...
However, the 2024 ECB convergence report concluded that Bulgaria did not meet the convergence criteria due to high inflation, so this timeline has been delayed. The Bulgarian National Bank and several Bulgarian politicians had expressed their desire to join as soon as possible, and projected that inflation would be low enough by the end of 2024 ...