Slowly moving

30 April 2012 By Pierre Briançon

Higher German consumption and more expensive exports would help balance the euro zone. Industrial action in favour of a 6.5 percent pay rise, and talks about a nationwide minimum wage, should please Berlin’s partners. But they shouldn’t hope too much, for now.

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Price pressures stayed high in the euro zone in April, despite a likely recession. That will keep an interest rate cut off the agenda for the European Central Bank, which wants to find ways to revive economic growth without violating its mandate to keep inflation low.
Annual consumer price inflation in the 17 nations sharing the euro moderated to 2.6 percent from 2.7 percent in March, the EU’s statistics office Eurostat said on Monday. Economists polled by Reuters had forecast 2.5 percent.

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