inflation/deflation

Signs of very marginal improvements in Greece - but unemployment still over 25%

The headline news from the latest Labour Force Survey results is that Greece’s unemployment has fallen just a little in January 2015 – it is now 25.7% compared to 27.2% in January 2014, and to 25.9% in December 2014.  The annual fall in unemployed is around 87,000, but note that the total number of unemployed is still a massive 3.53 million.

The employment situation has improved even less compared to a year ago – with a gain of just 37,000 finding employment.

EU Industrial Producer Prices up in February - ups and downs

According to Eurostat (1), Industrial Producer Prices in February 2015 rose 0.5% from January in the Eurozone, and by 0.6% in the EU as a whole.  This is the first monthly rise since September. But year on year, they fell by 2.8% in the Eurozone and 3.4% for the EU – the largest recent year on year falls bar January.

What is striking is that the monthly increase is due mainly to a small nudge-up of energy prices – whilst total industry prices excluding energy continued to fall both monthly (-0.1% in Eurozone and EU) and year on year, -0.7% for the Eurozone, -0.8% for the whole EU