Home / World Business
Fri, Mar 01, 2002 - Page 18 News List

Germans shed few tears as the mark becomes history

EUROMONEY Yesterday was the last day when local currencies could still be used in stores in any of the 12 countries that adopted the euro as a common currency

NY TIMES NEWS SERVICE , FRANKFURT, GERMANY

In fact, people who travel regularly between Ireland and Continental Europe say this is nothing new. Because Ireland's economy has been booming for the last half-decade, inflation has been much faster there than elsewhere and is expected to be well above 4 percent this year. What is new, however, is the ease in making price comparisons.

The statistical evidence of euro-related price hikes is more ambiguous. Consumer prices did jump by an annual rate of 2.5 percent in January, up from 2.1 percent in December. But economists say most of those price increases appear to be the result of rising food prices, which in turn stemmed from bad weather last fall in Europe.

This story has been viewed 2131 times.
TOP top