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Inflation hits record 10% in 19 EU countries using euro

Inflation hits record 10% in 19 EU countries using euro

23 Sept 02:55 Key points summarised by AI
  • Eurozone inflation surged to a record 10% in September, marking the highest level since the euro's inception.
  • Soaring energy prices (up 40.8%) and rising food costs (up 11.8%) are the primary drivers of this inflationary spike.
  • Reduced natural gas supplies from Russia and global supply chain bottlenecks are fueling the price increases.
  • This record inflation is undermining consumer spending, prompting economists to forecast a looming winter recession for the eurozone.
  • The European Central Bank is raising interest rates to combat inflation, though it cannot directly influence energy prices.
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