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Wednesday, December 7, 2022

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Eurozone inflation hits 10% for the first time in history

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Number refers to the accumulated in the last 12 months; rate was just above 9% until the month of August, according to Eurostat

Denis Charlet / AFP

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Euro is normally quoted above the dollar and its inflation is high

THE Europe reached a historic level regarding its inflation in the last 12 months. This is because the rate reached the level of 10%, which had never happened before in history. In the last month of August, the annual accumulated was 9.1%. The information was released by Eurostat this Friday, 30th. The energy sector accumulated a high of 40.8% compared to a high of 38.6% in the last month. The region is experiencing an energy crisis after the outbreak of conflict in Eastern Europe between Russia and Ukraine. In relation to food, there was an increase of 11.8%. Industrial goods rose 5.6% and services accumulated 4.3%. The agency also released a list of countries with the highest price index in recent months: Estonia (+24.2%), Lithuania (+22.5%), Latvia (+22.4%) , Netherlands (+17.1%), Slovakia (+13.6%), Greece (+12.1%), Belgium (+12%), Austria (+11%), Germany (+10.9%) and Slovenia (+10.6%). The lowest accumulated inflation is that of France, with 6.2% in the year.

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Source: Jovempan

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