Eurozone inflation hits record highs

Eurozone inflation hits record highs

In the eurozone, consumer prices continue to rise. They reached record highs in February due to energy costs.

According to the second data from the Statistics Office Eurostat, consumer prices rose 5.9 percent year-on-year. This means that the first estimate has been revised upwards by 0.1 points. Eurozone inflation has never risen since the introduction of the common currency in 1999.

According to the latest data, energy prices have risen by 32 per cent year-on-year. Food and beverages are 4.2 percent more expensive than they were a year ago.

Excluding energy, food and luxury goods, consumer prices rose by 2.7 per cent – up from 2.3 per cent in the previous month. Core inflation is volatile, so it is considered by many economists as a reliable measure.

See also  Eleven countries, including France, have signed a joint declaration against the UK response
Written By
More from Jake Pearson
The elegance of the Irish coast where whiskey lies with Winston Churchill
Note the audio version of the article Its ivy front is Georgian...
Read More
Leave a comment

Your email address will not be published. Required fields are marked *