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British economy shows signs of ‘slowdown’ in latest growth estimate
Britain’s economy has grown by just 0.3 percent in the second quarter of 2017, marking what government statisticians are calling a “notable slowdown” in the first half of the year. The slight expansion follows a 0.2 percent growth...
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Food prices
Jacqueline Hansen reports on a drop in the cost of food, and how that squares with people's perceptions
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UK inflation jumps to four-year high
The fall in the value of the pound since last year’s Brexit vote has contributed to a jump in UK inflation, reaching its highest annual rate for four years. It rose to 2.9 percent last month, up from 2.7 percent in April. Twelve months...
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UK inflation at highest since 2013, wages not keeping up with prices
Inflation in Britain has hit its highest level in three and a half years. It was driven up by more expensive clothing and energy as well as pricier air fares over the Easter holiday. The consumer price index – the CPI – was up by 2.7...
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Fava beans and falafel too expensive as inflation in Egypt hits 30-year high
The cost of living continues to be a big problem in Egypt. In April annual inflation reached the highest level in 30 years at 31.5 percent. The country imports many essentials and consumers are paying the price for the government...
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Bank of England says solid economic growth is linked to ‘smooth’ Brexit
The head of the UK’s central bank Mark Carney has said Britain should enjoy solid economic growth through to the end of the decade, but only if the government achieves a smooth departure from the European Union. The Bank of England (BoE)...
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Eurozone economy starts 2017 robustly
The eurozone economy started the year with robust growth according to preliminary estimates from the European statistics agency Eurostat. Setting the stage for a strong 2017, gross domestic product in the 19-countries that make up the...
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Eurozone inflation slows thanks to falling oil and food prices
Eurozone inflation slowed more than expected dragged down by stable energy prices. Inflation in the 19 country euro is 1.5 percent down from 2.0 in February. Core inflation, which excludes volatile prices of energy and unprocessed food,...
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Europeans shop till they drop in February
European consumers continue to spend according to the latest figures for retail sales in February, which showed a larger-then-expected increase especially in clothing as shoppers splurged more than usual on new looks for 2017. Higher...
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ECB boss Draghi squashes rate rise speculation
The European central bank’s boss Mario Draghi has moved to end speculation about monetary policy and an impending ECB interest rate cut. Analysts have been increasingly forecasting rate cuts this year, but Draghi says there are no signs...
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UK inflation holds steady in March
Inflation in Britain was unchanged in March – but it was still up 2.3 percent compared to a year ago. Food prices rose by an annual 1.2 percent last month, their biggest increase in three years. Inflation would have been stronger but for...
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UK wages growth losing out to inflation
Figures released on Wednesday show that British workers’ pay growth is barely keeping up with inflation. Earnings rose by an annual 2.3 percent in the three month period to February. On Tuesday we had learned that consumer price...
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Russian central bank confounds forecasts with interest rate cut
Russia has moved to lower interest rates and boost growth as its financial pressures ease, with a fall in inflation reassuring policymakers. The cut is only a small one, a quarter of one percent to 9.75%, but it bucked the forecasts and...
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Cool inflation
Benjamin Tal, deputy chief economist at CIBC World Markets, on the latest reading on CPI
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Bank of England to ‘stress test’ banks as Article 50 day looms
The Bank of England has warned British banks to prepare for a number of potential scenarios two days before Prime Minister Theresa May ignites Article 50. The Bank of England says that lenders will have to provide copies of contingency...
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Financial markets braced for US interest rate hike
The eyes of the financial world are on the Federal Reserve as policymakers started a two-day meeting which is almost certain to produce an increase in the cost of borrowing there. The woman in charge of the Fed, Janet Yellen, will speak...
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How should Europe react to inflation forecasts?
Lucrezia Reichlin, Professor of Economics, London Business School: The countries that are part of the Euro Area – I think that definitely the European Central Bank should keep on providing the stimulus that has been provided. I think an...
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Businesses need Europe to change
Anne-Sophie Panseri, CEO, Maviflex: I’ll be optimistic because the development of my company is involved, and it is a major issue for us, but I think that Europe needs to rethink its organization. I think we are at a point where, as...
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UK jobless rate falls but wage growth weakens again
The unemployment rate in the UK has fallen again. In the three months to January, the jobless total was just 4.7 percent of the workforce, down from 5.1 percent for the same period a year earlier. There were 31.85 million people in work,...
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UK inflation at 2.3 percent means dilemma for Bank of England policymakers
Inflation in Britain surged again last month. Consumer prices were up by a stronger-than-expected 2.3 percent thanks to more expensive fuel and food. That was up from the previous month’s 1.8 percent and above the 2.0 percent target of...
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Education trends
Benjamin Tal, deputy chief economist with CIBC, on rising enrolment in STEM programs, along with increasing tuition
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Eurozone inflation at four-year high of 2% increases pressure on ECB
Eurozone inflation surged to its highest in four years last month. Consumer prices in the 19 countries using the euro rose by 2.0 percent from February last year – up from January’s 1.8 percent. Producer prices – the amount that...
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Canadian food prices to rise
Dalhousie University's Food Price Report says the cost of food is rising faster than what Statistics Canada's food inflation report indicates