Inflation

Consumers in Cyprus are increasingly worried about their financial future, as rising food costs and economic challenges weigh heavily on the island's households, according to a recent survey.

In October, annual harmonized inflation in the European Union increased to 2.3%, with the Eurozone reporting a rate of 2.0%, according to Eurostat data. Inflation rates in both the EU and the Eurozone have risen compared to the previous month, with the September figures at 2.1% and 1.7%, respectively.

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), stated at the Asia-Pacific Economic Cooperation (APEC) summit in Lima, Peru, on November 15 and 16 that inflation is decreasing across the US, Europe, and Asia. She noted that this reduction has occurred without triggering a recession, unlike previous inflation spikes.

The decline in inflation is expected to continue in the coming period, Vice President Cevdet Yılmaz has said, noting that annual inflation has fallen by 27 points in the past four months.

"In mid-2025 or in the fall, we won't be talking about inflation anymore," Yılmaz said in a speech at a gathering with businesspeople in the province of Denizli.

Between 2.1% and 2.9% will be inflation in Greece over the three-year period 2024-2026, with structural inflation (excluding food and energy) at 2.5% to 3.4% over the same period, according to the “Inflation Monitor” which published today by the Bank of Greece.

The residential property price index (RPPI) rose by 26.8 percent annually in nominal terms in October, but home prices declined by 14.7 percent year-on-year in real terms, data from the Central Bank has shown.

The pace of increase of the index in nominal terms slowed from 27.4 percent in September.

Members of the Turkish Central Bank's Monetary Policy Committee (MPC) are set to meet on Nov. 21 to decide about the key interest rate.

Most economists expect the bank to keep its policy rate, the one-week repo auction rate, unchanged for the eighth straight month at 50 percent.

BELGRADE - Under a new central projection by the National Bank of Serbia (NBS), Serbian inflation will continue to move within the target tolerance band of 3±1.5 pct over the next two years, NBS Governor Jorgovanka Tabakovic said on Wednesday.

The reverberations from Donald Trump's recent re-election have reached Greece, stirring the internal dynamics of the ruling New Democracy party. Trump's resounding victory has sparked a fresh debate among Greek conservatives over whether a shift to the right is necessary to secure their political dominance. 

China's consumer inflation rate slowed in October, official data showed in a sign that demand remains sluggish in the world's number two economy.

The slowdown comes as authorities have been seeking to boost domestic activity as a property crisis weighs on confidence.