War is inflationary. However, the current inflation comes from before the conflict in Ukraine. According to Eurostat, in January 2022 year-on-year inflation had already reached 5.1% in the eurozone when in December 2019, before the pandemic, it was only 1.2%. The figure of 9.1% for August 2022 – the highest in the last 50 years – has two potential causes acting at the same time:
G20 merchandise trade growth slowed markedly in value terms in Q2 2022, as measured in current US dollars. Exports and imports increased by 2.1% and 2.6%, respectively, as compared to 4.8% and 6.2% in the previous quarter.
EU trade deals mean increased exports, more stable economic relations and secure access to resources, a new report out today shows. EU exports to preferential partners for the first time surpassed €1 trillion in 2021, according to the Commission’s 2nd Annual Report on the Implementation and Enforcement of EU Trade Agreements. The Report also shows that EU efforts to break down trade barriers and support small businesses are helping EU exports and thus supporting European jobs.
In August 2022, exports and imports of goods registered nominal year-on-year changes of +32.6% and +51.9%, respectively (+28.1% and +29.7%, in the same order, in July 2022). 2022), with emphasis on the 169.0% increase in imports of Fuels and lubricants, which was mainly due to the increase in value (+703.8%) and in volume (+41.9%) of imports of Natural Gas , liquefied, largely reflecting the rise in the price of this product on the international market (+466.5%).
Excluding Fuels and lubricants, exports and imports increased by 27.3% and 33.3%, respectively (+22.9% and +20.9%, in the same order, in July 2022).
Building a wood fired clay oven is a fun project and when you get done you’ll have fun using it too. It is however a moderately challenging project. So if you aren’t of sound body and mind, get help, or don’t do it.