topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 2131.6 0.57
DAX 6380.22 0.64
IBEX 30 6475.3 -1.03
CAC 40 3073.43 0.84
FTSE 100 5398.96 0.89
AEX 295.29 0.86
DJIA 12454.83 -0.60
Nasdaq 2837.53 -0.07
FTSE MIB 13192.12 0.28
TSX Composite 11576.47 0.09
ASX 4120.2 0.96
Hang seng 18800.99 0.47
Straits Times 2787.22 0.52
ISEQ 20 504.05 0.62
You are here: Home News French News Inflation in Europe jumps in March

French News

archive
Enlarge font Decrease font Text size


17/04/2008Inflation in Europe jumps in March

Eurostat move to revise March inflation rate to 3.6 percent in due of rising food and energy prices.

17 April 2008

BERLIN - Inflation in Europe jumped in March, data released Wednesday showed, with March's consumer prices revised up to 3.6 percent, and as result reducing the prospects of the European Central Bank (ECB) delivering an early rate cut.

The move by the European Union (EU) statistics office, Eurostat, to revise up the March inflation rate for the 15-member eurozone came in the wake of rising food and energy prices and followed its earlier estimate of a 3.5 percent annual rate.

Inflation stood at 3.3 per cent in February.

Either way, inflation remains well above the 2-per cent annual target set by the ECB, which has resolved to sit tight on interest rates in the face of resurgent inflationary pressures across the currency bloc.

Annual inflation in the broader-based 27-member EU came in 3.8 percent in March, up from 3.5 percent in February partly as a result of a sharp jump in consumer prices in several of the Brussels-based bloc's new Central European members.

While inflation in the two Baltic states of Latvia and Lithuania hit 16.6 percent and 11.4 percent respectively, annual consumer prices ion Bulgaria climbed to 13.2 percent last month compared to 12.2 percent in February.

March inflation also edged up in Slovakia, which hopes to be the next new EU member state to sign up to the euro in January next year.

The March figure was also the last data included in Slovakia's inflation assessment before the European Commission and the European Central Bank rule in the coming weeks on the country's application to join the eurozone.

Annual inflation in Slovakia came in at 3.6 percent in March up from 3.4 percent in February. As a consequence, this beat analysts' forecast of 3.5 percent rate in March.

However, analysts said the increase did not represent a threat to Slovakia's hopes of meeting nominal Maastricht inflation criterion as the key 12-month average increased only modestly to 2.2 percent from 2.1 percent in February.

This means that inflation in Slovakia is likely to remain comfortably under the strict reference rate of possibly just over 3 percent for nations seeking to join the euro.

The Netherlands and Britain recorded the lowest annual March inflation rates in Europe of 1.9 percent and 2.5 percent respectively, the Eurostat data showed.

[dpa / Expatica]


0 reactions to this article

Be the first person to add a comment

General rating: Not rated yet

Rate article:    Add my rating



0 reactions to this article

Be the first person to add a comment
Discussion Forums

Travel & Transport in France

BUY FAKE PASSPORT, DRIVING LICENSE,ID CARD

Immigration and Legal Problems

BUY FAKE PASSPORT, DRIVING LICENSE,ID CARD

Relocating to France

BUY FAKE PASSPORT, DRIVING LICENSE,ID CARD

Kiwis in France

BUY FAKE PASSPORT, DRIVING LICENSE,ID CARD

South Africans in France

BUY FAKE PASSPORT, DRIVING LICENSE,ID CARD

participate in the forums

Inside Expatica
Management culture in France

Management culture in France

This handy guide from Expertise in Labour Mobility includes information on business hierarchy, negotiations, and etiquette.

American associations and clubs in Paris

American associations and clubs in Paris

A listing of organizations in the Paris area that cater primarily to Americans living in France. Updated April 2011.

British associations and clubs in Paris

British associations and clubs in Paris

Our handy guide to the British community in Paris, from cricket clubs to Scottish country dancing lessons to where to find a jar of Marmite.

Anglophone services in France

Anglophone services in France

Here's a short introduction to our Banking section for those living in France, from how to open a bank account to Islamic banking and investments.