Inflation hits 9.1% in euro countries

London, August 31

Advertisement

Inflation in the European countries using the euro currency hit another record in August, fuelled by soaring energy prices mainly driven by Russia’s war in Ukraine. Annual inflation in the eurozone’s 19 countries rose to 9.1%, up from 8.9% in July, according to the latest figures released Wednesday by the European Union statistics agency Eurostat.

Inflation is at the highest levels since record-keeping for the euro began in 1997. Prices are also rising in many other countries as Russia’s war in Ukraine grinds on, triggering unprecedented increases for energy and food that are squeezing household finances. This summer has seen a wave of protests and strikes around the world by workers pushing for higher wages and people fed up with the high cost of living. — AP