the 1500000 tickets have already been sold a record for women's was because even if things are not always insane side, it fits you up to date is eligible. well, here's at the top of the hour kate ferguson's as a business updates in just a moment, looking at the economy here in germany, news comments on the headlines around the 12th, of course, on ww, dot com on the dw, have a good, the very well today well thanks for getting you just in the gym. loved about anything away from us, but i'm not even allowed to go to my own car and everyone with little holes in every single day stuff. getting you ready to meet the gym and then join me right.

just do it on dw, the discovery, change your mind. just click away, find out best document trees on you to see the world, the subscribe. know to dw documentary the is a stock nation. the cost of attaining inflation relations days out of germany shows your up top economy posted no growth in the last quarter. at the same time, inflation, it does appear to be cooling. we'll get expert analysis on both developments. also coming off,

enjoying the good lives or struggling to afford to suit how origin gina, skyrocketing, inflation, has exposed a star plots, divide this instead of the business. i'm kate ferguson and thanks for joining me. germany posted no growth in the last quarter raising for years in europe. largest economy is facing a long term loss of momentum, higher energy cost driven by the horn ukraine. china, sluggish recovery, and higher borrowing costs are all waiting on the country. there was some promising news, so inflation dropped slightly in july, coming in at 6.2 percent. for more in this less bringing from the grim professor of economics at fleet that it's alex on the university as a member of germany's cancel off economic experts. veronica 0 growth following 2 quarters of contraction that this has not signed. great. what's going on? yeah, i think we are in

a difficult period in germany as the central banks have been raising key interest rates at a regular pace basically since last year in order to find this place. and i think the bound binding of economic growth is something that comes with it about, which is all of course necessary in order to get inflation down. so i think this will be the challenge to get us most lending of monetary policy. not too much of a recession, but we're in a very stagnation kind of period. okay, so inflation is down all bit only slightly to 6.2 percent. does that mean we can find the expect an end to these interest rate, high flush of really being hastening people with their mortgages? i'm with a car loan payments or yeah, i think b, c, b is not still much greater pressure. um then the federal reserve bank in the united states and the current inflation in the euro zone is still high. it is, might now go down,

but it seems as if the issue is not yet done. so of the c, b has not committed itself to a for, for interest rates, step in september of but it will make its decision dependent on data basically. and i think it could be expected that there was a next step in september. but why is the c b under so much more pressure than the fed? why are the policies working in the us? i'm not here in europe. yeah, 1st of the cd we acted much later than the federal reserve. the inflation is still high. so in europe there was a lot of pressure from the supply side. basically we had a huge energy crisis. energy prices went up and now they are going to step by step into car inflation. and core inflation has been rising and is still high. so this is a challenge for the u. c. b, headline inflation is very heterogeneous across europe in spain, for example,

where the energy prices have risen or baby very much in 2022 cor inflation is now down because the energy price effect is not that essential anymore. in other countries likes like yard inflation is still an 11 pumps we percent, but the average um it has car inflation is still high. and i think this is uh, the main issue. why the c b is not done yet, but as the most since they're, the countries are really experiencing diverging sites here. why is germany struggling so much one of the weaknesses in this economy? yeah, i think there's that 2 aspects beyond monetary policy. one issue is that germany has been hit very strongly by the end of the crisis, because germany has been very dependent on boston gas. and so the deliberately stopped on rushing gossett especially drum and you've heard very much. and 2nd of

this, a lot of energy intensive industry and drama new, which is now of course, struggling with a high energy prices. and there was quite a lot of uncertainty. now, what will be the prospectus in the context of the energy intensive industry? i think one is you are the fossil fuel energy prices and the other issue is the front formation, which is much more of a challenge in these times. so the transformation towards climate neutrality, and of course, something that is very important for of the industry and which is very of which puts very much things that stay at the moment. veronica graham, the professor of economics of sleep says alex, i'm the university there. now while inflation, the euro zone to maybe easing elsewhere in the world, it is a completely different story. in argentina, inflation is forecast to hit a 120 percent by the end of the year. and for those fortunate enough to have money

to spare, the rapidly developing currency is a reason to go out and enjoy life. instead of watching the savings dwindle in the bank for the poor rising prices mean struggling to afford to eat it's friday and on the coast of rio de la plata. this restaurant is crowded, as are many others and natural end and middle class neighborhoods. one of the restaurant owners, diego was in you, although it says that despite drummed contemplation, consumption in leisure and culture, including eating out, has increased 7 percent compared to 2022. the ammonia is why. busy i have no notion of carriers either. visa is literally drowning and it doesn't make sense to say aren't many opportunities for investing either. that's why many people have decided to spend what they have on vacations, beautiful restaurant visits, grew up and recreation in general. i mean it's a brand new consumer, no set of money and one of the customers is roberto romano. he is spending around

$40.00 for a plate of pointers and a glass of wine. i'm seeing that. can you see a crisis isn't having an effect and all of us going to a restaurant is the only thing i can afford. i don't buy clothes. i don't buy luxury products. i don't buy anything. i mean i spend it on food. why? because it brings me joy or is it because something i allow myself to indulge in with the money roberto spends on his meal for adults will good rental room. and if a villa in going to cyrus, where he's been sleeping rough for a year last year, the number of people living on the streets of when his iris increased 34 percent. because of his addiction, for adults will no longer has the documents needed to receive a subsidy for rent. and what he earns from collecting garbage isn't enough. i can't afford anything, even by a teal of meat, a butcher is out of my reach 12 and

a half trans costs of 2500 pieces. you'd also have to have to buy rice vegetables plus the gas who spends to go to places. how do you suppose to do that when you're only earning 6000 pesos? it's crazy and i'm angry. you. mariana gonzales is an economist at the unemployment agency in argentina. it has analyzed the glowing, any quality in the country. and i, you know, associated society has become poor as a whole. the people at the lower end of the income scale are suffering. the most of the, you know, put on the, even the middle class has not gained anything during this time. rather the opposite . and yet we see a trend like the credit restaurants. but i'm saying some say the overcrowded restaurants are due to the so called around economy, where many earn high incomes through informal off the books work, and make even more money than in the formal labor market. the origin tina sky rock the thing inflation has also led to an astronomical rise in the rent. the

government has stepped in with a low to stop the landlord's increasing costs too often. but in many cases, that policy has backfired. leaving tenants in an even worse stage on before apartments in born aside is a highly sought after. and they are extremely expensive. rental prices emergency enough capital and have exploded in recent years to protect tenants. and you know, was passed that the last landlords only one rent increase per year, but it's back fi it. many landlords have instead switch to platforms like air b and b, they must receive the owners are focusing on template or rents because they are paid in dollars, which is a strong currency. and we can understand it because they have worked their whole life both properties and not want to get a good income from them. getting to know one of them though, the landlords have been trying to compensate for the inflation of around 100 percent and to avoid the weak origin time passed. so if payment is made wire for an

account, us dollars can be converted into pessimists at black markets. rights award and currency controls. it's illegal but widespread. and it has led to a huge imbalance and the capitals real estate market. and they will know further your so, but before to know that there were as many as 8 times as many listings for rent. and the product and on the market as now does it to whom do i meet with them? that's a big change. it to some of the, i mean the last few months besides being hit by inflation and in the lower, a new player appeared to know what the temporary rent is going to do. but i believe less younger what the amount of today and off load is, is like, you know, what i do. that's only added to the missouri for tenants in the metro opponents of point to cyrus. and we to inflation only rising things don't live to get any better

. tens of thousands of people have been forced to leave their homes and cut their holidays shores as wildfire as continue to rage on the greek islands of rhodes and courses in a country where one and 5 jobs depends on the tourism industry. the economic impact of climate change is already painfully apparent. this is what's left of the dream vacation. the fire has raged heavily on the greek holiday island of rhodes. tens of thousands of people had to be evacuated from results and homes in the past few days . thousands of vacation as well flowing out for the trace. it was a really terrified and bad experience. but from us i think it's more is because we leave here. everything is burn taco some, a triple. this is in a similar situation. his business was not spat by the flames. nevertheless, he's now trying to look forward with the business. we are. we have

a good defense and the way i hope we're to fix it again. it's not that bad every way. he and call, for example, a major area swift sped by the fios hotel owners. i now particularly worried that guests might stay away because of the pictures they see on tv. some travel agencies have already restricted the office to greece. of course they have like a, they have the dealer this for safety reasons, but the not let me did he had we don't have any problems about then just the not terrify the people. the core full is a, an emergency. it's one sides of the eye. but needs help, but we have a, we still have authorities, we don't have any progress in the other areas in greece. one and 5 jobs depends on tourism. but on holly the islands like roads in call for, it's likely close to 100 percent on that rough up i show from where you can always check out, you know, meet dot com slash for me on the team is by taking the

go in the the waste from this cross is a major source of pollution, but it could become a solution because this entrepreneur is turning it into the 2 twin branch with lots of benefit to their teeth. they provide veterans the lease in the captured carbon dioxide the double use the stay up to date. don't miss our highlights. the t w program online, d w dot com highlights interest

global economy report folio dw business b on. here's a closer look at the project. our mission to analyze the flight for market dominance. this is where the heck with dw business be on the oh. hello.