5 events worth paying attention to today

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1) Year-on-year consumer price growth in Turkey accelerated to 68.5 percent in March from 67.1 percent in the previous month. Inflation thus rose for the fifth month in a row, despite aggressive interest rate hikes by the Turkish central bank. This follows from today’s data from the Turkish Statistical Office. The sharp rise in prices is considered one of the main reasons for the defeat of the ruling Justice and Development Party (AKP) in Sunday’s local elections, AFP reported.

2) In the first four months of Israeli bombing, the Gaza Strip suffered damage to critical infrastructure in the amount of approximately 18.5 billion dollars (435 billion CZK), the World Bank and the United Nations estimate in a report published yesterday. Israel launched an offensive in the Gaza Strip after a cross-border terrorist attack by Hamas on October 7.

3) The Committee of Chief Ministers of the OPEC+ group, which consists of the Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, recommended leaving the group’s current production policy unchanged. This is according to a statement released by the Committee of Ministers (JMMC) after the meeting.

4) According to seasonally adjusted data, the unemployment rate in the European Union stagnated at six percent in January. The statistical office Eurostat stated this in its report today. The lowest unemployment was in the Czech Republic at 2.6 percent, the highest in Spain, where it was 11.5 percent. In countries paying with the euro, unemployment also remained unchanged at 6.5 percent.

5) Year-on-year growth in consumer prices in the eurozone slowed to 2.4 percent in March from 2.6 percent in February. Inflation thus fell for the third month in a row. This was stated today in a quick estimate by the European statistical office Eurostat. This estimate does not include data for the entire European Union.

Source: Investing.com, Bloomberg, Reuters, ČTK, AFP, Eurostat

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