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inflation

Four Scenarios for a World in Disorder

A world in disorder is epitomized by the deterioration in US-China relations, Russia’s war in Ukraine, populism and inflation. By David Bach Chinese leader Xi Jinping’s recent speech to the Communist Party Congress could be one of the most consequential of...

Inflation in Greece Jumps to 12 Percent in September

The annual inflation rate in Greece rose to 12 percent in September, up from 11.4 percent in August and 11.6 percent in July, the Hellenic Statistical Authority (ELSTAT) said on Monday. More specifically, the consumer price index rose 2.9 percent...

Greece Projects Slower Growth for 2023

The economy of Greece will grow at a slower pace in 2023 after a strong rebound this year largely fueled by the tourism sector. The country's economic output is seen increasing by 2.1% next year from 5.3% this year,...

More Than 40% of Greeks Can’t Afford to Take Vacation; Among Highest in EU

This summer has brought throngs of tourists to Greece but a new report found that more than 43 percent of all employed Greek citizens cannot afford to go on vacation. They totaled more than 1.6 million of the 38 million...

Prices of Goods Continue to Increase in Greece

Prices of everyday goods in Greece continue to increase, which has caused shoppers to cut back significantly in recent months. The cost of everything from electrical appliances, cars, milk, and soap has increased substantially in Greece, much like in most...

Inflation in Greece Climbs to 12 Percent in June, Growth Revised Downwards

Inflation in Greece reached 12 percent in the month of June from 10.5 percent in May and 9.1 percent in April, according to data released by Eurostat, the official statistical authority of the European Union announced on Friday. The rate...

US Fed Interest Rate Hike is Highest in Nearly 30 Years

The US Federal Reserve's decision to raise interest rates by three quarters of a percent on Wednesday—the biggest hike since 1994—was designed to rein in the country's overheated economy and fast-rising inflation, which have led to price spikes market...

Top Greece Destinations Too Expensive for Locals

Due to the country's economic crisis, many vacation destinations in Greece have become exceedingly expensive, so much so that average Greeks cannot afford to travel in their own country. Much like in many parts of the world, the inflation rate...

Greek Inflation Rate Soared to 11.3 percent in May

Much like in many parts of the world, the inflation rate in Greece has soared to its highest rate in nearly thirty years this month. The Greek inflation rate reached 11.3 percent in May alone, which is up from 10.2...

JP Morgan Boss Jamie Dimon Warns of Economic “Hurricane”

Jamie Dimon, chairman and chief executive of JP Morgan Chase, described the challenges facing the US economy as akin to a “hurricane” down the road. Dimon’s comments come a day after US President Joe Biden met Federal Reserve Chairman Jerome...