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Inflation Hits Record 8.9% In 19 Countries Using The Euro

Annual inflation in the eurozone's 19 countries rose to 8.9 per cent in July, an increase from 8.6 per cent in June, according to the latest numbers published Friday by the European Union statistics agency.

Inflation Hits Record 8.9% In 19 Countries Using The Euro
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Brussels: Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia’s war in Ukraine.

Annual inflation in the eurozone’s 19 countries rose to 8.9 per cent in July, an increase from 8.6 per cent in June, according to the latest numbers published Friday by the European Union statistics agency.

Inflation has been running at its highest level since 1997 when record-keeping for the euro began. Energy prices surged by 39.7 per cent, while food prices rose by 9.8 per cent and other goods by 4.5 per cent.

Energy prices surged by 39.7 per cent, slightly lower than the previous month, while prices for food, alcohol and tobacco rose by 9.8 per cent, faster than the increase posted last month.

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