the peak lies. instead, it ended up another one mill wind, which may not inspire confidence, but still pleads some of the younger fans. here's a reminder of the top story we're following for you. if this are the united nations security council has condemned the military takeover in the share of the statement comes after the head of the presidential guard up to rob ross. i'm on a johnny named himself, the country's new leader after to posing the elected president. and so for me, for an inflation slow style in germany, but keeps roaring ahead in argentine case versus the details in business after the break section for that for me take care the . every jenny is full of surprises. we've gone all out to give you some time.

one day in the course of the rectory in your northern most count, the police the free time, but still very much alive. your guy to the special in germany recognizes where exactly. it was fun. i have learned a lot of our culture history, all their travel extremely worth a visit. the is a stock nation, the cost obtaining inflation relations days out of germany tells europe top economy posted no growth in the last quarter of the same time and installation. it does

appear to be cooling. we'll get experts analysis on both developments. also coming up, enjoying the good life, or struggling to afford suit how items you know, sky rocketing inflation has exposed a star cloth device. this is dw business. i'm kate ferguson and thanks for joining me. germany posted no growth in the last quarter raising fear said europe largest economy is facing a long term loss of momentum. higher energy costs driven by the horn ukraine. china's sluggish recovery and higher borrowing costs are all waiting on the country . there was some promising news though. inflation dropped slightly in july, coming in at 6.2 percent for more and that's less bringing approval on that kind of grim professor of economics. up sleeping, there's alex on the university. i'm a member of germany's cancel off economic experts. veronica 0 growth following 2

quarters of contraction. 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 the interest rates at a record pace basically since last year in order to find this place. and i think the down putting 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 a little bit only slightly to 6.2 percent. does that mean we can finally expect an end to these interest rate, high flush of really being hitting people with their mortgages on with their car loan payments as 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 eurozone 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 a to a for, for interest read 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 be reacted much later than the february. so um 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 like flow rate, york inflation is still at 11.3 percent, but the average um it has the 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 does 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 russian gas. and so the deliberately stopped on russian gossip, especially durham, and you've heard very much. and 2nd of this is a lot of energy intensive industry in germany, 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 and 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 trunk formation, which is much more of a challenge in these times. so the transformation towards climate neutrality is 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 for on the playground, that professor of economics obviously plays alex on the university there. now while inflation, the euro zone and maybe easing elsewhere in the world, it is a completely different story. in argentina, inflation is forecast to his

a 120 percent by the end of the year. and for those fortunate enough to have money to spare, the raffling devaluing currency is a reason to go ahead and enjoy life instead of watching their savings dwindle in the back. 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, a natural end and middle class neighborhoods. one of the restaurant owners, diego was annual note, says that despite drummed contemplation, consumption in leisure and culture, including eating out, has increased 7 percent compared to 2022. the money. that is why the why do i have no national car is either the diesel is literally drowning and it doesn't make sense to say, you don't find 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. let me say plan. they're going to and one outside of mind 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 on all of us going to arrest one 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 could rent a room. and if a villa in going to cyrus, where he has 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 at a butcher is out of my reach. 2 and a half trans costs of $2500.00 pieces. you'd also have to have to buy rice vegetables plus the gas you spent to go to places. how do you suppose to do that when you 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 blowing 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, for the even the middle class has not gained anything during this time. rather the opposite. and yet we see a trend for like the credit restaurants. but i'm saying some say the overcrowded restaurants are due to the so called around economy, where many are in high income's through informal, off the books work and make even more money than in the formal labor market.

argentines skyrocketing inflation has also led to an astronaut michel rise in the rent. the government has stepped in with a lot of stop line boards increasing costs too often. but in many cases that policy has backfired. leaving tenants in an even worse stage. and before apartments important aside is a highly sought after and they are extremely expensive. rental price is emergency enough capital to have exploded in recent years to protect tenants and you know was passed at the most landlords. only one rent increase per year, but it's back fi it. many landlords have instead switch to platforms like air b and be the most. we see the owners are focusing on template or rents because they are paid them 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. because you know, one of them though, the landlords have been trying to compensate for the inflation offer on 100 percent

and to avoid the weak origin time passed. so, and if payment is made, why are for an account us dollars can be converted into pessimists at black markets rights. avoid incurring controls. it's illegal but widespread. and it has left you a huge imbalance in the capitals, real estate market. and they will know further. so, but before to know that there were as many as 8 times as many listings for rent in the apartment 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 a new law, a new player appeared to know what the temper or rent is going to do. but i believe less younger, less than the amount of today. and off load is like, you know, what i do that's only added to the missouri for tenants in the metro opponents of 4

and a cyrus. and we to inflation only rising tanks. don't look 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, on for food 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 flown out for the tories. it was a really terrified and bad experience, but from us i think it's worse because we leave here. everything is burned. taco some, a triple us is in a similar situation. his business was not spared by the flames. nevertheless,

he's now trying to look forward to where 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 areas with that by the fios hotel owners. i know particularly worried that guests might stay away because of the pictures they see on tv. some travel agencies, if already restricted the office to greece. of course they've agreed to pay the, the villages for safety reasons, but the non funding did here. we don't have any problems about then just the not to defy the people. the core full is the emergency. it's one sides of the eye but needs help. but we have a, we still have authority and we don't have any progress in the other areas in greece . one and 5 drops depends on tourism. but on holiday islands like roads in call for,

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