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Eurozone Economy
Inflation in the 20 countries that use the euro currency slowed to 6.9 per cent in March, the lowest level in a year, with food costs still on the rise while energy prices fell, making a sharp turnaround after months of punishing increases. Consumer prices in the eurozone dropped from the 8.5 per cent recorded in February, according to data released Friday by the European Union's statistics agency, Eurostat. The inflation has dropped to its lowest level in a year since since peaking at 10.6 per cent in October. But prices for food, alcohol and tobacco rose by a painful 15.4 per cent, faster than the previous month's 15 per cent, in a sign that European consumers are still getting squeezed. Energy prices, however, fell 0.9 per cent an abrupt change of direction after rising at double-digit rates over the past year. Russia's war in Ukraine pushed up prices for natural gas used to heat homes and generate electricity, fueling overall inflation, but the latest reading indicates that a
Shares were mostly higher Monday in Europe and Asia after strong data on the U.S. economy sent Wall Street to its best close in six weeks. Germany's DAX gained 0.4% to 15,644.08 and the CAC 40 in Paris was up 0.7% at 7,397.31. London's FTSE 100 edged 0.1% lower to 7,941.38. The future for the S&P 500 gained 0.2% while that for the Dow Jones Industrial Average was up 0.2%. On Friday, the S&P 500 rose 1.6% to cap its first winning week in the last four as easing yields in the bond market relieved pressure on Wall Street. It's found some stability following a swift rise and fall to start the year. The Dow industrials climbed 1.2%, while the Nasdaq composite jumped 2%. In Asian trading Monday, Hong Kong's Hang Seng index rose 0.2% to 20,603.19 and the Shanghai Composite index lost 0.2% to 3,322.03. At the annual session of China's rubberstamp legislature, the government set this year's economic growth target at around 5% as it tries to rebuild business activity following the end .
French President Emmanuel Macron advocated Tuesday for his contested plan to increase the pension eligibility age as part of the pro-business policies he has promoted since he took office in 2017, saying people need to work a little longer to make the system financially sustainable. Macron visited the Rungis International Market in the southern suburbs of Paris for his first public discussion with French workers since lawmakers started debating the government's pension-reform legislation earlier this month, prompting series of strikes and protests. The bill, which the Senate expects to start considering on March 2, would push back the minimum retirement age from 62 to 64 and require people to have worked for at least 43 years to be entitled to a full pension, amid other measures. People know that yes, on average, you have to work a little longer, all of them, because otherwise we won't be able to finance our pensions properly, Macron said. All French retirees receive a state pensio