The eurozone’s recent inflation reading is at its highest since record keeping for the euro began in 1997.
The rise in inflation was driven by continued disruptions in natural gas supplies from Russia and bottlenecks in obtaining supplies of raw materials and auto parts as the global economy recovered from the COVID-19 pandemic.
Russian cuts to gas supplies have driven up gas prices so much that energy-intensive companies like fertilizer and steel say they can no longer make a profit from making some products.
And in order to reduce inflationLast month, the European Central Bank raised key interest rates by 75 basis points after announcing in July a 50-point increase that was the first in 11 years.
The European Central Bank is widely expected to introduce a new rate increase of 75 basis points at its next meeting.
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and testify Euro-zone Record inflation rates due to significant increases in energy prices Against the background of the Russian-Ukrainian crisis.
The eurozone’s recent inflation reading is at its highest since record keeping for the euro began in 1997.
The rise in inflation was driven by continued disruptions in natural gas supplies from Russia and bottlenecks in obtaining supplies of raw materials and auto parts as the global economy recovered from the COVID-19 pandemic.
Russian cuts to gas supplies have driven up gas prices so much that energy-intensive companies like fertilizer and steel say they can no longer make a profit from making some products.
And in order to reduce inflationLast month, the European Central Bank raised key interest rates by 75 basis points after announcing in July a 50-point increase that was the first in 11 years.
The European Central Bank is widely expected to introduce a new rate increase of 75 basis points at its next meeting.