Home United States USA — mix Inflation in Europe eases as energy prices down but still in double...

Inflation in Europe eases as energy prices down but still in double digits

72
0
SHARE

Array
Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and led economists to predict a recession.
The consumer price index in the 19 countries that use the euro currency hit 10% in November from a year earlier, the European Union statistics agency Eurostat said Wednesday.
That was a drop from 10.6% in October, the first decrease since June 2021.
The figure reflected prices for food, alcohol and tobacco rising faster, at a pace of 13.6% annually, even as energy prices slipped to a 34.9% rate of increase from an astronomical 41.5% in October.
Out-of-control inflation is being fed by high energy prices caused by Russia largely cutting off natural gas over the war in Ukraine as well as bottlenecks in supplies of raw materials and parts and rebounding demand after COVID-19 pandemic restrictions ended.

Continue reading...