Posted on by

Eurozone Inflation Sets Another Record, Hitting 10 Percent in September



Share

Month by aching month, surging energy prices are exacting a worsening toll on the living standards of millions of Europeans.The European Commission reported on Friday that consumer prices in the countries that use the euro as their currency rose at an annual rate of 10 percent in September, again reaching the highest level since the creation of the euro more than two decades ago.The double-digit pace was a big jump from 9.1 percent in August, the previous record.The numbers are just the latest evidence of how the invasion of Ukraine by Russia, which once provided most of Europe’s energy, is undermining economic growth, sowing anxiety and straining government resources in Europe more severely than in the United States and many other regions.Energy prices, which rose at an annual rate of 40.8 percent in the eurozone in September, were the main contributor to the accelerating inflation, driven higher by the invasion of Ukraine by Russia. Food prices rose 11.8 percent in September, from 10.6 percent …

Read More