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.
October 2022 Current Affairs Quiz
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.