Annual inflation in 19 eurozone countries accelerated to a record 8.6 percent in June.
IMF: Without Russian gas, GDP of some European countries would fall by six percent.
The dollar crossed an extremely important psychological level against the euro yesterday: it was the first time in 20 years that the world’s two most important currencies have been at parity.
The EC raised its estimate of EU inflation to 8.3% in 2022 and to 4.6% in 2023.
Business sentiment in Germany unexpectedly fell sharply in July, to a level below that seen at the start of the Covid crisis, according to a survey by the ZEW economic research institute.
Annual inflation in Norway accelerated in June to a record 6.3 per cent since 1988.
Inflation in China in June was higher than forecast at 2.5 per cent.
Copper price at lowest since 2020 due to strong dollar and concerns around demand.
Turkey’s Institute of Statistics reported that annual inflation accelerated to 78.62 per cent in June.