Eurozone Inflation Hits At 10%, A new High 

Eurozone Inflation Hits At 10%, A new High: Inflation in the 19-member eurozone reached 10% in September, the highest it has ever been in the history of the common European currency, according to the latest flash estimate from Eurostat, the EU statistics agency.

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This is up from the 9.1% seen in August. Just one year ago, inflation was 3.2%. The high inflation figure comes as the region experiences soaring electricity and natural gas prices, and also comes amid forecasts of a looming recession.

The price of energy has risen 40.8% when compared to last year’s prices, while the cost of food, alcohol and tobacco rose 11.8% in September, up from the 10.6% recorded in August. The inflation figure in Estonia for September was pegged at a whopping 24.2%, a little lower than the 25.2% seen in August, but also the highest in the eurozone.