Latest news with #HarmonisedIndexofConsumerPrices
Fibre2Fashion
6 days ago
- Business
- Fibre2Fashion
Germany's inflation holds at 2% in July; core inflation at 2.7%
Germany's annual inflation rate stood at 2 per cent in July 2025, unchanged from the previous month, according to provisional data released by the Federal Statistical Office (Destatis). On a monthly basis, consumer prices rose by 0.3 per cent. Core inflation remained higher at 2.7 per cent. The Harmonised Index of Consumer Prices (HICP), used for eurozone monetary policy, increased by 1.8 per cent year-on-year and 0.4 per cent from June. Germany's inflation held steady at 2 per cent in July 2025, with consumer prices rising 0.3 per cent month-on-month. Core inflation stood at 2.7 per cent. The HICP rose 1.8 per cent year-on-year. Energy prices fell 3.4 per cent, while food prices edged up to 2.2 per cent. Services inflation eased to 3.1 per cent, while goods saw an increase of 1 per cent. A breakdown of key components showed a continued drag from energy prices, which fell by 3.4 per cent in July after a 3.5 per cent drop in June. In contrast, food prices rose slightly to 2.2 per cent from 2.0 per cent. Services inflation eased to 3.1 per cent from 3.3 per cent, while goods saw a modest price increase of 1 per cent. Fibre2Fashion News Desk (SG)
Agriland
31-07-2025
- Business
- Agriland
Cso Food Prices Up 0 2 in the Last Month
The Flash Estimate for the Harmonised Index of Consumer Prices (HICP) July 2025 published by the Central Statistics Office (CSO) shows an increase of 0.2% on food prices over the last month. The overall EU HICP for Ireland is estimated to have increased by 1.6% in the 12 months to July 2025 and increased by 0.2% since June 2025. This compares with HICP inflation of 1.6% in Ireland in the 12 months to June 2025 and an annual increase of 2% in the HICP for the Eurozone in the same period. Looking at the components of the flash HICP for Ireland in July 2025, energy prices are estimated to have grown by 1.5% in the month and fallen by 0.3% over the 12 months to July 2025. Food prices are estimated to have risen by 0.2% in the last month and risen by 4.6% in the last 12 months. The HICP excluding energy and unprocessed food is estimated to have grown by 1.7% since July 2024. Commenting on the data published today, statistician in the CSO Prices Division, Anthony Dawson said: 'The latest Flash Estimate of the Harmonised Index of Consumer Prices (HICP), compiled by the CSO, indicates that prices for consumer goods and services in Ireland are estimated to have increased by 1.6% in the past year. "Looking at the components of the flash HICP in Ireland for July 2025, energy prices are estimated to have increased by 1.5% in the month and decreased by 0.3% since July 2024. "The HICP excluding energy and unprocessed food prices, is estimated to have grown by 1.7% since July 2024. "Food prices are estimated to have risen by 0.2% in the last month and risen by 4.6% in the last 12 months. "Transport costs have grown by 1.2% in the month and declined by 2.7% in the 12 months to July 2025, he said. The corresponding rate for the Eurozone will be published tomorrow (Friday, August 1). The Consumer Price Index (CPI) is the official measure of inflation for Ireland and is published monthly by the CSO. The HICP is an index of consumer prices that has been harmonised to allow comparisons across Eurozone countries.
RTÉ News
31-07-2025
- Business
- RTÉ News
Food prices up an estimated 4.6% in July
Food prices are estimated to have risen by 4.6% over the last 12 months, according to new figures from the Central Statistics Office. Food prices rose by 0.2% in the last month, the CSO added. The CSO today published a flash estimate for inflation which showed the cost of living has risen by 1.6% in the 12 months to July, unchanged from the previous 12 month period. There was an annual increase of 2% in prices across countries which use the euro in the 12 months to June 2025. In Ireland, the cost of energy is estimated to have grown by 1.5% in the last month and has fallen by 0.3% in the 12 months to July. The Harmonised Index of Consumer Prices, excluding energy and unprocessed food, is estimated to have grown by 1.7% since July 2024, the CSO added.
The Hindu
17-07-2025
- Business
- The Hindu
More tourist beds, fewer homes: cost of ‘overtourism' in EU
Last month, residents across southern Europe, particularly in Spain, Italy, and Portugal, protested against 'overtourism'. They held placards that read 'tourists go home', 'your holidays, my misery', and 'mass tourism kills the city', making clear their disapproval of unregulated tourism. This month, hoteliers in Mallorca, Spain hit back by putting up posters welcoming tourists. This is not just cultural tension; it is rooted in structural issues. Data shows that tourism, when unregulated, reshapes housing markets in those cities, prices out residents, and creates jobs that offer little security. The COVID-19 pandemic caused a dip in the contribution of tourism to the GDP of all countries. But by 2022, the sector rebounded rapidly. In general, in Italy, Portugal and Spain, tourism contributes close to 6% or more of the countries' GDP, which makes it a significant source of revenue. In comparison, tourism contributes to only 2% of India's GDP. The chart shows contribution of tourism to the GDP in select European countries. While tourism is a money-spinner, increasing dependency on the sector puts those who govern these hotspots in a dilemma — should they prioritise tourists over their residents economically, spatially, and socially? The European Union's Harmonised Index of Consumer Prices (HICP) — an inflation measure which excludes home ownership and renovation costs — hovered at less than 2% from 2015 to 2020, only to increase to 8% in 2022. In contrast, the Owner-Occupied Housing Price Index (OOHPI) — an inflation measure which includes buying, renovating, and owning a home — was already hovering around the 3-4% mark from 2015 to 2020, only to spike to 11% in 2022. Similarly, the Housing Price Index (HPI), an inflation measure which tracks how prices in the housing market change, also surged beyond the 10% mark in 2022. The chart shows the European Union's Harmonised Index of Consumer Prices (HICP), Owner-Occupied Housing Price Index (OOHPI) and Housing Price Index (HPI) — all measures of inflation — for the 2011 to 2022 period Put simply, housing costs rose much faster than overall consumer prices. For residents, it has become more expensive to live in these cities than it is for the tourists to come and stay in them temporarily. The protests against tourists are most pronounced in Spain, Italy, and Portugal, which together account for over 45% of all tourism-related accommodations in the EU in 2023. These three nations also hosted 33% of all the hotel beds in the EU. The chart shows Italy, Portugal and Spain's share in the EU's tourism-related accommodations, hotel beds and tourist nights spent (2023) The vast scale of tourist accommodations in southern Europe highlights how deeply the economy is being shaped around tourists. As per Eurostat, in 2022, tourists spent nearly 450 million nights in Italy and 485 million in Spain. Meanwhile, Portugal, which has a population of 10 million and just over 8,000 tourism-related establishments, hosted nearly 85 million overnight stays. The term 'tourism night' is a metric commonly used to measure the volume of tourist activity. The latest Eurostat report shows that most tourist spending comes from overnight visitors — 93% in Italy, 97% in Portugal, and 89% in Belgium as opposed to just 30% in Luxembourg. The chart shows the inbound tourism expenditure, tourists who stay overnight and the same-day visitors (%) for select countries in the EU, for the year 2022 As a result of this pattern of overnight tourism, homes are turned into 'stays', thus causing greater pressure on the housing markets and other long-term spatial strains. Of all tourism-related businesses in the EU, 37% are in Spain, Italy, and Portugal. The chart shows Italy, Portugal and Spain's share in the EU's tourism-related businesses (2022) This uneven concentration positions these nations not merely as travel destinations, but also as key pillars of Europe's tourism economy. However, locals in these countries are shouldering the hidden costs of a sector that, though profitable, impacts their lives. Tourism, for them, has also become a driver of inequality. The data for the charts were sourced from Eurostat, the statistical office of the European Union and Our World In Data. Latest available data was taken for all the charts Niranjana V B is interning with The Hindu Data Team
Fibre2Fashion
11-07-2025
- Business
- Fibre2Fashion
Dutch inflation holds at 3.1% in June, driven by seasonal costs: CBS
Consumer prices in the Netherlands were 3.1 per cent higher in June 2025 compared to the same month last year, according to flash estimate from Statistics Netherlands (CBS). On a month-over-month (MoM) basis, prices remained largely unchanged from May, reflecting stability after a 0.5 per cent drop recorded in May relative to April. Dutch consumer goods and services were 2.8 per cent more expensive in June YoY, slightly down from 2.9 per cent in May, according to the Harmonised Index of Consumer Prices (HICP). Across the euro area, inflation rose marginally from 1.9 per cent in May to 2 per cent in June. Air travel and seasonal accommodations were key contributors to the inflation rate in June. While international flight tickets were still 11.1 per cent cheaper than in June 2024, this was a smaller decline compared to May's 20.3 per cent year-over-year (YoY) drop. Consumer prices in the Netherlands rose 3.1 per cent year-on-year in June 2025, with month-on-month levels largely unchanged, according to CBS. Airfare and seasonal accommodation contributed to inflation, though flight prices declined less sharply than in May. HICP data showed Dutch inflation at 2.8 per cent, slightly below May's 2.9 per cent, while eurozone inflation edged up to 2 per cent. The cost of miscellaneous goods and services rose modestly, with the index moving from 0.42 to 0.44. Notably, energy prices in the Netherlands increased YoY, while falling across the wider eurozone. Fibre2Fashion News Desk (SG)
