European Commission: Bulgaria on Track for Euro Adoption in 2026, but Challenges Remain
European Commissioner for Economy Valdis Dombrovskis has stated that Bulgaria's objective of joining the eurozone on January 1, 2026
Annual inflation in the eurozone rose unexpectedly in January, reaching 2.5%, up from 2.4% in December 2024, according to preliminary data from Eurostat. This increase surpassed market expectations, which had anticipated inflation to remain at its December level. It also marks the highest inflation rate since July 2024, moving further away from the European Central Bank’s target of 2%.
On a monthly basis, consumer prices declined by 0.3% in January, following a 0.4% rise in December. The surge in inflation was largely driven by higher energy prices, which increased by 1.8% year-on-year after showing only a marginal 0.1% rise in the previous month. Meanwhile, inflation in non-energy industrial goods climbed for the second consecutive month, rising by 0.5%.
In contrast, inflation in the services sector slightly slowed to 3.9% from 4.0% in December, while the rate for food, alcohol, and tobacco declined to 2.3% from 2.6%. Core inflation, which excludes food and energy prices, remained stable at 2.7% year-on-year for the fifth consecutive month—the slowest pace of increase since February 2022.
Among eurozone countries, Ireland recorded the lowest inflation rate in January at 1.5%, followed by Finland at 1.6% and Italy at 1.7%. The highest inflation rates were reported in Croatia (5.0%), Belgium (4.4%), Slovakia (4.1%), and Austria (3.5%).
U.S.-Russia negotiations that took place in Riyadh have raised deep concerns across Europe, with fears mounting that discussions could lead to a significant reduction in the U.S. military presence
US Vice President JD Vance delivered a critical speech at the Munich Security Conference
US Defense Secretary Pete Hegseth stated that Europe cannot indefinitely rely on the US military presence
The NATO defense ministers' meeting in Brussels and the Munich Security Conference have drawn significant attention this week, with US President Donald Trump's approach to Ukraine and Russia
The European Parliament has reiterated its refusal to recognize the self-proclaimed authorities of Georgia
A major police operation is underway in Munich after a car plowed into a crowd of demonstrators near the city's central train station
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