Inflation Hits New Record In Europe

Advertisement

EUROPE – Russia’s war with Ukraine blamed for record inflation in 19 European countries fuelled by out-of-control gas prices.

There are also fears that slowing economic growth could lead to a recession.

Annual inflation reached 10.7% last month up from 9.9% the month before.

These are the highest statistics in the eurozone since 87.

The inflation outbreak is an international phenomenon sending price increases to a 40-year high as seen in the U.S. as well.

Euro-state figures show food, alcohol, and tobacco increasing by 13.1% with energy prices rising an astronomical 41.9% a year earlier.