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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).
One was a U-turn on the eurozone's bailout policy that led to the creation of a specific fund to assist eurozone states in trouble. The European Financial Stability Facility (EFSF) and the European Financial Stability Mechanism (EFSM) were created in 2010 to provide, alongside the International Monetary Fund (IMF), a system and fund to bail out ...
The key macroeconomic data in the eurozone countries are: General government net debt / Percent of GDP; General government net lending/borrowing / Percent of GDP; inflation rate; gross domestic product (real GDP); unemployment.
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 ...
Economist Julian Jessop said: “Hopefully, this will just be a temporary pause: employer confidence could recover as slower wage inflation encourages the Bank of England to keep cutting interest ...
Eurostat, the European Union's official statistics agency, said today that industrial production in the 17 eurozone countries was 0.6% higher in July than in June, but 2.3% lower than in July 2011.
In 2023, the Eurozone fell into recession from January to March [222] and also in March, the Eurozone core inflation hit a record 5.7%, the highest level since records began in 2001. [223] On 14 September, the ECB raised the interest rate for the tenth consecutive time to 4%, the highest since the euro was launched in 1999. [224] [225]