November 26, 2022

Eurozone Inflation Hits Record 10%

Highest in the history of the european

Inflation in the 19-member eurozone reached 10% in September, the highest it has ever been in the history of the common European foreign currency, according to the latest flash estimate from Eurostat, the EUROPEAN statistics agency.

This is up from your 9. 1% seen in August. Just one year ago, pumpiing was 3. 2%.

Rising energy prices  the chief contributor

The high pumpiing figure comes as the region experiences  soaring electricity and natural gas prices, and also comes  among forecasts  of a looming economic downturn.  

The cost of energy has risen forty. 8% when compared to last year’s prices, while the cost of food, alcohol and tobacco rose 11. 8% in September, up from the 10. 6% recorded in August.

The inflation number in Estonia for September  was pegged at a whopping 24. 2%, a little lower  than the 25. 2% seen in August, but also the highest within the eurozone.

Lithuania, Latvia and Netherlands adhere to closely with their rates of inflation sitting at 22. 5%, 22. 4% plus 17. 1%, respectively.

According to Eurostat,   German inflation  is seated at 10. 9%. Berlin on Thursday presented a new € 200 billion ($196 billion) relief plan inside a bid to counter increasing energy prices.

Throttled supply of gas through Russia has  caused costs to skyrocket and has  led  European officials in order to accuse state-run Gazprom of energy blackmail.

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