Inflation in the euro zone, against the backdrop of the energy crisis caused by the war in Ukraine, has reached a new record level: in July, consumer prices rose at an annual rate of 8.9%, it reported on Thursday. , August 18, the European statistics office Eurostat , thus confirming the initial estimates.
This is the highest rate of inflation since the introduction of the euro. In June, life in the euro zone increased by 8.6%. This is very different from the targets set by the European Central Bank (ECB) to keep inflation at 2%. Against the backdrop of the continuing rise in the cost of living, a further increase in the ECB’s base rate looks increasingly likely, according to Reuters.
In July, for the first time in 11 years, the regulator raised the rate by half a percentage point in one go. Experts believe that at the next meeting, on 8 September, the ECB may decide on a further significant increase in the base rate. The bank’s management believes that the rise in the cost of living in the euro zone will continue in the short term.
Source: DW
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