Commerzbank reported a net profit of €352 million euros in the three months ended June after reporting a €761 million-euro loss in the same period a year ago. They are forecasting improved growth for the German economy. EPA/MARIUS BECKER

Figures released by Eurostat, the European Union statistical bureau, show that inflation in the Eurozone rose to 1.7% in July 2010, up from 1.4% in June. EU annual inflation was 2.1% in July 2010, up from 1.9% in June. A year earlier the rate was 0.2%. Outside the Eurozone, inflation for member states rose to 2.1%.

The lowest annual rates were observed in Ireland (-1.2%), Latvia (-0.7%) and Slovakia (1.0%), and the highest in Romania (7.1%), Greece (5.5%) and Hungary (3.6%). Compared with June 2010, annual inflation rose in nineteen Member States, remained stable in one and fell in six. In Germany inflation in July was 1.2%.

The increase was led by rises in transport (4.5%), alcohol & tobacco (3.3%) and housing (2.7%), while the lowest annual rates were observed for communications (-0.8%), recreation & culture (-0.3%) and household equipment (0.5%).

In June, the highest rises have been with heating oil (0.17%) and fuel for transport (0.48%).

It has to be reminded that the European Central Bank has set the limit of 2% on inflation and will start considering to take action against inflationary pressures only if it surpasses this ceiling. In any case there is no reason whatsoever for the ECB to consider inflation as a problem.

In another more interesting development the Gross Domestic Product is also rising in the Eurozone and the 27 member states by 1% in the second quarter of 2010. This is an improvement on the previous quarter where GDP increased by 0.5% in the Eurozone and 0.4% in the EU27.

Germany put in the strongest performance, with a rise of 2.2%, the largest quarterly increase since the country was reunified. Economists at are predicting that Germany will continue to grow, forecasting a rate of 3.25% for 2010. If Germany is excluded from the figures, GDP rose 0.8%.

The poorest performer was Greece, with a drop of 1.5%. Spain registered a small rise of 0.4% and Portugal, 0.2%.

During the second quarter of 2010, US GDP increased by 0.6% compared with the previous quarter, after +0.9% in the first quarter of 2010.

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Eurozone Inflation and GDP rise

Commerzbank reported a net profit of €352 million euros in the three months ended June after reporting a €761 million-euro loss in the same period a year ago. They are forecasting improved growth for the German economy. EPA/MARIUS BECKER

Figures released by Eurostat, the European Union statistical bureau, show that inflation in the Eurozone rose to 1.7% in July 2010, up from 1.4% in June. EU annual inflation was 2.1% in July 2010, up from 1.9% in June. A year earlier the rate was 0.2%. Outside the Eurozone, inflation for member states rose to 2.1%.

The lowest annual rates were observed in Ireland (-1.2%), Latvia (-0.7%) and Slovakia (1.0%), and the highest in Romania (7.1%), Greece (5.5%) and Hungary (3.6%). Compared with June 2010, annual inflation rose in nineteen Member States, remained stable in one and fell in six. In Germany inflation in July was 1.2%.

The increase was led by rises in transport (4.5%), alcohol & tobacco (3.3%) and housing (2.7%), while the lowest annual rates were observed for communications (-0.8%), recreation & culture (-0.3%) and household equipment (0.5%).

In June, the highest rises have been with heating oil (0.17%) and fuel for transport (0.48%).

It has to be reminded that the European Central Bank has set the limit of 2% on inflation and will start considering to take action against inflationary pressures only if it surpasses this ceiling. In any case there is no reason whatsoever for the ECB to consider inflation as a problem.

In another more interesting development the Gross Domestic Product is also rising in the Eurozone and the 27 member states by 1% in the second quarter of 2010. This is an improvement on the previous quarter where GDP increased by 0.5% in the Eurozone and 0.4% in the EU27.

Germany put in the strongest performance, with a rise of 2.2%, the largest quarterly increase since the country was reunified. Economists at are predicting that Germany will continue to grow, forecasting a rate of 3.25% for 2010. If Germany is excluded from the figures, GDP rose 0.8%.

The poorest performer was Greece, with a drop of 1.5%. Spain registered a small rise of 0.4% and Portugal, 0.2%.

During the second quarter of 2010, US GDP increased by 0.6% compared with the previous quarter, after +0.9% in the first quarter of 2010.

Canada is rich in culture and heritage. It boasts over 41 national parks diverse in wildlife and spectacular scenery. Canada ski holidays offer a truly remarkable ski holiday destination.

Book great value flights to India online at dealchecker.co.uk. At dealchecker.co.uk it is quick and easy to compare prices from charter airlines and all major scheduled flights.

A Cuba Holiday has so much to offer with numerous different cultures affecting the sights, sounds and tastes. Visit this fascinating country with dealchecker.co.uk.

Prevent both internal and external fraud activity. Attend Marcus Evans fraud events to know how.

Using a debt consolidation loan you can get all your current loans, overdrafts, and credit cards onto one easier to pay payment.

Need a flight to Salzburg? Click above.

Read the article on New Europe

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