The President of the Republic opined on Friday that inflation in Europe is “moving in the right direction” and called on economists to reason more openly, referring to the possibility of cutting interest rates.
Speaking to journalists in Faro, on the sidelines of the National Assembly of the National Strategy for the Integration of the Homeless, Marcelo Rebelo de Sousa highlighted the declines in the year-on-year change rate of the Consumer Price Index and the year-on-year change in the Consumer Price Index. today announced the annual inflation rate of the eurozone.
“Europe, I’m not talking about Portugal anymore – we have fallen, only a little, 0.1%, in terms of inflation –, but in Europe it was more than a point, 1.3%. This means that Europe, in terms of inflation, In general, even the countries that scored very high, the Baltic States, in Eastern Europe, and which weighed heavily on the European average, are experiencing this evolution. This shows that it is a phenomenon that continues, no one thinks it was a consequence of the latest decision of the European Central Bank, does not come into force within 15 days”he said.
The President of the Republic stated that “there is a trend” and that he hopes that, “as the trend becomes more visible”There is more openness among economists about the possible reduction in interest rates.
“[Que] the most rigid economists are starting to have: it’s no longer a slightly softer heart, it’s that they’re starting to have more open reasoning to understand that inflation is heading in the right direction. [mas] The situation of many families is taking a turn for the worse due to the interest.”he insisted.
In his speech, a few minutes earlier, Marcelo Rebelo de Sousa had already spoken about today’s “good news”.
“Inflation is falling at European level and has also fallen a bit in Portugal. Let’s see if this reaches important women and men in the financial sector in Europe and the world to help with what they think they should help with”he declared.
The annual rate of change in the consumer price index was 3.6% in September, a rate 0.1 percentage point lower than in August, according to the snap estimate released today by the National Statistics Institute (INE).
Annual inflation in the eurozone fell to 4.3% in September, compared to 5.2% in August, according to a snap estimate published today by Eurostat.
Source: DN
