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Inflation hits record 8.9% in 19 countries using the euro

Annual inflation in the eurozones 19 countries rose to 8.9 percent in July, an increase from 8.6 percent in June, according to the latest numbers published Friday by the European Union statistics agency.

July 29, 2022 / 02:59 PM IST

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia’s war in Ukraine.

Annual inflation in the eurozones 19 countries rose to 8.9 percent in July, an increase from 8.6 percent in June, according to the latest numbers published Friday by the European Union statistics agency.

Inflation has been running at its highest level since 1997, when record-keeping for the euro began.

Energy prices surged by 39.7 percent, while food prices rose by 9.8% and other goods by 4.5 percent.
Reuters
first published: Jul 29, 2022 02:59 pm
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