Italy Consumer Price Inflation June 2008
Posted by
follow me
,
at
12:58 PM
Consumer prices are rising all across Europe even as economic growth slows. Oil prices have almost doubled in the past year and are near a record high today. European Central Bank President Jean-Claude Trichet and his team at the ECB will probably raise the bank's benchmark interest rates this week by a quarter-point to 4.25 percent. This will mean that economic activity in Italy will be under pressure from rising interest rates, fiscal spending reductions and the high euro all at the same time, and at the very moment when the Italian economy is showing considerable weakness.
At the same time Italian producer prices rose to their highest in at least eight years in May to 7.5 percent, according to additional data from the statistics office today. Energy costs for manufacturers are 21.5 percent over the last year, according to the report.
Subscribe to:
Post Comments (Atom)
Popular entries
-
The state of Minnesota failed to process submitted license renewals for Miller and Coors beer products before the government shutdown. As a ...
-
Spain's economy is now most evidently, and totally and completely officially, in its first recession since 1993. The final confirmation ...
-
The U.S. has imprisoned 2,500 children since 9/11 as "enemy combatants", in violation of the Geneva Convention against classifyi...
-
Once again I am in a musical mood. It's time for a remake of a classic Jerry Lee Lewis song. I said come on over baby A-whole lotta hop...
-
The looming problem of what will happen as and when some of the other Eurozone economies eventually start to recover while the Spanish one l...
-
There are two ways builders can pass home inspections. Build quality homes to code Hire their own inspectors Following is an email fr...
-
In his column today, Paul Krugman reminds us of the press event in 2003 where "officials from multiple agencies used pruning shears an...
-
German exports and investment spending plunged in the first quarter, dragging Europe’s largest economy into its deepest economic slump on re...
-
Unemployment in Spain, which was the source of half the eurozone's new jobs between 2001 and 2006, was up sharply in the second quarter ...
-
As Europe’s leaders struggle to convince markets that their Greek debt problem-resolution-proposals are actually viable, and will really do ...