By Chrysostomos Tsoufis
Everyone in Europe is looking forward to the announcement at 12 noon of the first Eurostat estimates on Eurozone inflation levels for May. Will stay “Nailed” at 7.4%, a historical record, for the third consecutive month or will its de-escalation begin? As far as our country is concerned, will exceed 9.1% in April which ranked us in the middle approximately, in 13th place, in the 27th of the Eurozone?
The results of Eurostat will also be a “guide” for the announcements – on June 9 – of the Hellenic Statistical Authority, which in April calculated the national index at 10.2%, which is a record of 27 years.
THE war in Ukraine, dizzying oil and gas prices as well as disruptions in the global supply chain are the reasons that have caused this frantic inflationary race and have led to massive revisions of estimates. For Greece, the government estimates this year that inflation will be at 5.6%, the Commission at 6.3%, the IMF at 4.5% and the BoG at 5.5%. Everyone appreciates that in in the second half of the year there will be de-escalation.
But for inflation to fall, there must be action. THE ΕΚΤ Which, like the other central banks, is accused of oligarchy – has made that decision and will raise interest rates. According to chief economist Philip Lane, it should be expectedin the near future 2 increases of 0.25 points in July and September so that at the end of the third quarter the negative interest rates are a thing of the past.
The Brussels is whistling indifferentlyhanding out inadequate toolboxes, essentially leaving the Member States alone. Athens is eagerly looking for fiscal space for support measures after its plan for electricity – which goes into effect in July and will help reduce inflation – has deprived it of all resources. Everything shows that it will be found, but it will be difficult before July.
The horizontal 15-minute discount on diesel will continue in JulyThe reduced VAT on transport, catering and tourism will be maintained until the end of the year, it is expected expansion and fuel subsidy Probably not in its current form – while scripts for new precision check, reduction of VAT on specific products, even fuel ceiling on some islands.
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