Eurozone inflation hits record high as food-fuel price rises

Eurozone inflation hits record high as food-fuel price rises
Eurozone inflation hits record high as food-fuel price rises

Inflation in the Eurozone has risen to new highs. Inflation has been soaring in the region since the Russia-Ukraine war. The inflation rate rose to 9.1 percent in August. This situation has mainly arisen due to skyrocketing food and fuel prices. This information was reported in a CNBC report on Wednesday (August 31).

According to the report, the current rate of inflation is higher than expected. An earlier Reuters poll had forecast inflation at 9 percent. Inflation in the region has been on the rise for the past nine months, starting in November 2021. Inflation rose to 8.9 percent in July.

Eurostat said on Wednesday that annual fuel inflation hit a record high of 38.3 percent, down slightly from 39.6 percent in July. However, inflation in food, alcohol and tobacco rose to 10.6 percent, up from 9.8 percent in July.

Moreover, inflation in clothing, home appliances and cars increased by 5 percent compared to last year. There was an increase of 0.5 percentage points last month. Whereas the cost of services has increased by 3.8 percent year-on-year.

MSM/ASM

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The article is in Bengali

Tags: Eurozone inflation hits record high foodfuel price rises

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