Inflation Hits Record 10 Percent in 19 EU Countries Using Euro

[Epoch-Times-Bot]

Inflation Hits Record 10 Percent in 19 EU Countries Using Euro

FRANKFURT, Germany—Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power.
Consumer prices in the 19-country eurozone rose a record 10 percent in September from a year earlier, up from an annual 9.1 percent in August, EU statistics agency Eurostat reported Friday. Only a year ago, inflation was as low as 3.4 percent.
Price increases were beyond what market analysts had expected and are at their highest level since record-keeping for the euro started in 1997. Energy prices were the main culprit, rising 40.8 percent over a year ago. Food, alcohol, and tobacco prices jumped 11.8 percent....

Source: Inflation Hits Record 10 Percent in 19 EU Countries Using Euro

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