Bolo Rei. Zero inflation. Euro falls.

“Mega” Bolo Rei

Facebook Photo - Municipality of Câmara de Lobos

What is described as a “mega” Bolo Rei is being prepared in Câmara de Lobos in anticipation of the tradition of the Epiphany. The event, promoted by the local authority, is open to the public. Last year the completed “Kings Cake” was 70 metres in length and weighed 150 pounds, whilst this year the target is an ambitious 140 metres and 220 pounds. Bolo Rei is generally eaten in Portugal between Christmas and the Dia de Reis (a reference to the Three Kings) on January 6. I seem to recall a similar project in the Praça do Municipio in the centre of Funchal some years ago – don’t know if they still do this?

Near zero inflation for 2015

clip_image002Portugal’s government has estimated that this year will see prices rise by an average of 0.7% in comparison to 2014. This is lower than the initially-predicted 1% increase, leading to a series of forecasts pointing to effectively zero inflation for the coming year. In a report accompanying the Portuguese Government’s 2015 State Budget the calculations were drawn from “a context of absence of inflationary pressures – or deflationary – in international markets.”
Electricity prices are expected to rise slightly (I saw a figure of 4.2% somewhere for Madeira?), with a 2.9% increase in tax on beer and spirits, and 0.7% increase in the cost of public transport. Tobacco taxes are to be widened to include electronic cigarettes.

Cheaper holidays for Brits in Europe

A number of UK newspapers reported last week that UK holidaymakers can expect to pay considerably less when traveling to European destinations including Madeira in 2015. January is one of the busiest months for bookings, and the Telegraph conjectured that “holidaymakers can expect to save anything between five and 15 per cent on the cost of travel and accommodation booked this month, and pay almost 20 cent less than last year on expenses such as eating out”.

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Sterling is trading more than seven per cent higher against the euro in comparison with last spring and close to the highest level against the single currency for more than six years. A euro is now worth just over 78 pence, compared with almost 84 pence in March.

13 thoughts on “Bolo Rei. Zero inflation. Euro falls.”

  1. Have been making Bolo Rei here in Canada for a few years now. We were at the Jardin Municipal a few years ago, I believe it was casa do povo from Camacha who had the huge cake that year. Wonder if the giant cake has the bean and coin hidden inside. My inlaws from Madeira say traditionally who ever gets the bean is supposed to make the cake for the next year.
    Bom ano novo.

  2. We are wondering about the Golden Gate Cafe. Will be in Madeira next month and it was always the first place we visited for a coffee and to watch the world go by. Any news? We know Regency? went into administration.

  3. Have watched a couple of videos of this year’s fireworks. They seemed to have been 8 minutes long, shorter than previous years but spread over a greater area. There did seem to be a lot of ‘white’ but that may down to the recording. Did anyone see them live? If so what was your impression?

  4. I watched them from just past Zarcos restaurant. I thought the fireworks were great again, although there were a couple of parts when there seemed to be a short lull with nothing happening at all. There did appear to be a lot of white, and I wondered if the original idea had been shelved, and more colour added at short notice as a result of the Christmas lights debate. There were some lovely colours and shapes. The finale was very loud and very white, but with all the hype of it being different from previous years, I personally didn’t see a huge difference. In saying that, I also didn’t think it was a display worthy of any Guinness world record, and nowhere near the display when Madeira did take the record some years ago. The atmosphere in town hours before the event was superb and I shall be here again next new years eve I hope.

  5. jackie w – by a strange coincidence I was meeting friends on that flight. They diverted to Porto because a woman became poorly – nothing too serious apparently, but there was no medical expertise on board. Two and half hours late into Madeira.

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