Cocoa prices have surged to record highs due to disappointing harvests in major producing countries like Ghana and Côte d'Ivoire, driven by climate phenomena such as El Niño and illegal mining activities. This has led to concerns about chocolate shortages and rising prices. Major chocolate manufacturers like Hershey's and Mondolez are adjusting their strategies, including price increases, to manage the impact on profits. Easter sales offer a temporary reprieve, but the ongoing cost-of-living crisis may limit consumer spending. The situation highlights the broader challenges facing the cocoa industry, including climate change and economic pressures on producers.

French year-on-year inflation for March 2024 fell to 2.3%, the lowest since September 2021, driven by slower food price increases and a drop in energy prices. The French economy is expected to grow modestly by 0.9% in 2024, with growth picking up in the latter half of the year due to rebounding private consumption. The European Central Bank may consider rate cuts this summer, depending on incoming economic data.

Irish consumers will face price hikes for fuels and telecommunications services starting April 1. The government is increasing excise rates on fuel to pre-2022 levels, with further hikes expected in August. This will result in higher costs for petrol, diesel, and marked gas oil. Telecommunications companies like Vodafone, Three, Sky Ireland, and Eir will also raise prices, citing inflation and investment needs. The Irish government faces criticism for continuing excise duty increases despite record fuel tax revenues in 2023. Peadar Toibin of Aontu argues that the government should reduce tax rates to alleviate the burden on families and businesses.

Thames Water's future is uncertain as shareholders refuse a £500 million lifeline payment, raising concerns about a potential government bailout. The company, owned by Kemble Water, faces significant debt and has been unable to meet performance requirements for the cash injection. CEO Chris Weston assures that operational expenses are covered until next year. Thames Water's financial troubles are exacerbated by regulatory constraints from Ofwat, which has denied requests to significantly raise water bills. The UK government may nationalize the company if it fails to secure necessary funds, as it is crucial to the water supply for 15 million households.

The UK has entered a technical recession, with two consecutive quarters of negative GDP growth, driven by high inflation, reduced external demand, and record interest rates. Prime Minister Rishi Sunak faces criticism from opposition figures like Shadow Chancellor Rachel Reeves, who accuse him of failing to grow the economy. Despite Sunak's reassurances of economic recovery, the latest GDP figures show a decline. In contrast, the US economy expanded more than expected in Q4 2023, driven by increased consumer spending and non-residential investment.

Cocoa prices have surged to record highs due to poor harvests in key producing countries like Ghana and Ivory Coast, driven by climate phenomena such as El Niño. This has led to concerns about rising chocolate prices and potential shortages. Major chocolate manufacturers like Hershey's and Mondelez are adjusting their pricing strategies to manage costs, with some already increasing prices on popular products. The upcoming Easter sales may provide short-term relief, but the ongoing cost-of-living crisis could impact consumer spending on non-essential items.

Cocoa prices have reached historic highs due to poor harvests in key producing countries like Ghana and Ivory Coast, driven by climate change and the El Niño weather phenomenon. This has led to concerns about rising chocolate prices and potential shortages. Major chocolate manufacturers, including Hershey's and Mondolez, are adjusting their pricing strategies and exploring alternative products to mitigate the impact. The upcoming Easter sales may provide temporary relief, but the ongoing cost-of-living crisis could limit consumer spending on non-essential items.

The collapse of the Francis Scott Key Bridge in Baltimore, caused by a container ship collision, has raised concerns about global supply chain disruptions. The bridge's closure affects the Port of Baltimore, a key hub for automobile exports and liquified natural gas (LNG) shipments. President Biden has promised swift repairs, but no timeline has been provided, heightening anxieties. Major brands like General Motors, Ford, and Jaguar Land Rover, as well as coal and rail companies, are expected to face delays. Shipping giant Maersk has already rerouted its services away from Baltimore.

Diageo, a British-Irish drinks giant, is raising pint prices for the third time in over a year, with a six-cent increase in Ireland affecting brands like Guinness, Rockshore, Carlsberg, and Hop House 13. The hikes are due to rising input costs, despite recent drops in inflation and energy prices. The Vintners Federation of Ireland criticizes the move, highlighting the hospitality sector's struggles with rising costs and calling for government support. Diageo has also announced Sir John Manzoni as its new board chairman, succeeding Javier Ferran.

Beata Javorcik, Chief Economist at the European Bank for Reconstruction and Development, discussed the main economic risks for 2024 at the Davos summit of the World Economic Forum, highlighting inflation driven by maritime transport disruptions in the Red Sea due to Yemeni Houthi attacks. Shipping companies like Maersk, MSC, and Hapag-Lloyd have halted Red Sea and Suez Canal routes, with alternative routes adding significant travel time and costs. This could lead to increased final product prices, particularly in energy. Central banks remain cautious about declaring victory over inflation, which remains above the 2% target. The conflict in the Middle East and its impact on shipping could further affect inflation trajectories. Commodity markets may see renewed volatility, especially with geopolitical tensions involving Iran, the US, UK, and European countries. AI advancements pose potential risks to electoral processes, with concerns about interference through disinformation. Europe's economy may be better positioned this year, but natural gas prices remain high, threatening competitiveness and potentially leading to deindustrialization. The EBRD is focusing on promoting the green transition in Europe.