Latest news with #HICP
Fibre2Fashion
04-08-2025
- 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)
Fibre2Fashion
03-08-2025
- Business
- Fibre2Fashion
China-US tensions could bring more Chinese goods to Europe: ECB blog
Hit by higher US tariffs, Chinese exporters may redirect some of their goods from the United States to the euro area, and that could bring down headline harmonised index of consumer prices (HICP) inflation in the zone by around 0.15 percentage points in 2026, with smaller effects persisting into 2027, according to a blog by European Central Bank (ECB) experts. During the 2018 US-China trade war, such redirection resulted in euro area imports from China increasing by around 2-3 per cent between 2018 and 2019, they noted. Now, history could repeat. In a severe scenario in which US tariffs on Chinese goods escalate to an effective rate of around 135 per cent, the euro area could see imports from China rise by up to 10 per cent in 2026. Hit by higher US tariffs, Chinese exporters may redirect some of their goods from the US to the euro area, and that could bring down headline HICP inflation in the zone by around 0.15 pps in 2026, with smaller effects persisting into 2027, an European Central Bank blog said. Chinese authorities have pledged targeted support to help affected exporters redirect sales to domestic or third markets. A second estimate that uses general equilibrium models featuring production inter-linkages suggests a somewhat more moderate increase in euro area imports from China of 7-9 per cent, the blog said. Several factors suggest that the euro area could experience a larger redirection of Chinese exports this time than it did back in 2018. First, the composition of Chinese exports to the United States and to the euro area is similar, making the euro area a natural alternative. Second, established supply chain links, which have expanded since the last China-US trade war, and ongoing industrial upgrades in China facilitate the redirection of trade flows. Many euro area firms already rely on Chinese imports, making it easier to absorb redirected goods. More broadly, around three-fourths of all products imported by large euro area countries already have at least one Chinese supplier. Third, Chinese businesses have laid the groundwork to facilitate faster market entry. For example, they have almost tripled their presence with investments in European sales and distribution networks since 2017, the ECB blog noted. Fourth, the depreciation of the Chinese renminbi makes Chinese goods cheaper and more attractive for European importers. And fifth, while the profit margins of Chinese exporters have narrowed since the onset of the first trade conflict in 2018, many firms, especially those in final goods production, still have room to absorb the reduced profit margins, the blog said. In addition, Chinese authorities have pledged targeted support to help affected exporters redirect sales to domestic or third markets, which could allow for further price cuts, it noted. Calculations by the ECB experts indicate that lower Chinese import prices would reduce overall import prices by 1.6 per cent. But it will take some time for consumer prices to drop. The magnitude of the effect depends on several factors, including the strength of domestic demand, the scale of the shock itself and the potential policy responses that may offset the disinflationary impact, the blog added. Fibre2Fashion News Desk (DS)
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.
BreakingNews.ie
31-07-2025
- Business
- BreakingNews.ie
Food prices rise by 4.6% in the last 12 months
Food prices are estimated to have risen by 0.2 per cent in the last month and risen by 4.6 per cent in the last 12 months, according to the Central Statistics Office (CSO). Overall, the EU Harmonised Index of Consumer Prices (HICP) for Ireland is estimated to have increased by 1.6 per cent in the 12 months to July 2025 and increased by 0.2 per cent since June 2025. Advertisement This compares with inflation of 1.6 per cent in Ireland in the 12 months to June 2025 and an annual increase of 2.0 per cent 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 per cent in the month and fallen by 0.3 per cent over the 12 months to July 2025. The HICP excluding energy and unprocessed food is estimated to have grown by 1.7 per cent since July 2024. The CSO said Eurostat will publish flash estimates of inflation from the EU HICP for the Eurozone for July 2025 on August 1st, 2025. Advertisement Commenting on the data published, Anthony Dawson, statistician in the prices division, 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 per cent in the past year. Ireland Over 300,000 households in arrears on electricity... Read More "Looking at the components of the flash HICP in Ireland for July 2025, energy prices are estimated to have increased by 1.5 per cent in the month and decreased by 0.3 per cent since July 2024. "The HICP excluding energy and unprocessed food prices, is estimated to have grown by 1.7 per cent since July 2024. "Food prices are estimated to have risen by 0.2 per cent in the last month and risen by 4.6 per cent in the last 12 months. "Transport costs have grown by 1.2 per cent in the month and declined by 2.7 per cent in the 12 months to July 2025."
Irish Independent
31-07-2025
- Business
- Irish Independent
Food prices rising at three times the rate of general inflation
Higher grocery costs are forcing families to cut back and buy cheaper cuts of meat. Provisional inflation figures for July from the Central Statistics Office (CSO) show that the cost of food is continuing to rise sharply. Overall inflation was up by 1.6pc in the year to July, a rise of 0.2pc since June. But food prices are estimated to have risen by 4.6 over the last year, with a rise of 0.2pc in the last month. This is according to a measure called the EU Harmonised Index of Consumer Prices (HICP) for Ireland, the CSO said. Energy prices are estimated to have grown by 1.5pc in the month. But they have fallen by 0.3pc over the last year. The harmonised index excluding energy and unprocessed food is estimated to have grown by 1.7pc since July 2024. Transport costs have risen by 1.2pc in the month, but fell by 2.7pc in the 12 months to July this year. Recent research has found that shoppers are buying less in a bid to save money. ADVERTISEMENT Learn more They have reached a 'tipping point' due to relentless price rises, pushing them to buy cheaper items and use other tactics to keep costs down, according to separate research from grocery data firm Kantar. Emer Healy, business development director at Kantar, said recently: 'Although households have been adjusting their spending for some time now, what we're seeing is a clear 'tipping point' when inflation goes above 3pc to 4pc. 'This is when shoppers really start to feel it in their wallets, and they change their behaviour.' Research from consultancy firm KPMG found the cost-of-living squeeze means that getting the best price is the main priority for shoppers. People are making choices about where to shop best on the prices they can get, according to the recent KPMG Next Gen Retail Survey. The survey found that close to six out of 10 shoppers say that getting the best price is the main priority when deciding where to shop. Researchers found that Irish shoppers are actively modifying their shopping behaviours to manage household budgets. KPMG found that almost a third of Irish shoppers feel less financially secure now compared to the start of the year. The research highlights significant financial pressure that Irish consumers are under, and a risk of further consumer price pressure as the impact of tariffs take effect. More than half of the respondents (54pc) said they are now buying less items to save money. Last month, Agriculture Minister Martin Heydon warned that the recent surge in food prices is unlikely to be reversed. He said it reflects farmers' input costs. UCC economist Oliver Browne has calculated that grocery prices have cumulatively increased by 36pc in the past four years. A leading farming group has blamed politicians for the rising cost of produce, warning consumers that the days of 'cheap food' are over. The Irish Creamery Milk Suppliers Association (ICMSA) also accused politicians of 'profound ignorance' as it blamed them for adding cost to food production. The ICSMA said rising food prices are here to stay.
