Inflation hits new record in Europe, slowing economy

Eurozone inflation hits record high of 10.7%: preliminary data

Preliminary data on Monday from Europe's statistics office showed headline inflation came in at an annual 10.7% in October, marking the highest-ever monthly reading since the eurozone's formation.

Inflation hits a new record in Europe

The uncontrolled prices of natural gas and electricity put a strain on the spending capacity of Europeans

Eurozone inflation sets new record of 10.7% in October

Eurostat explained that the main increase recorded was in energy, with a rate that reached 41.9 percent.

Inflation hits a new record in the euro area

The annual inflation rate in the eurozone has reached 10.7% this month, and analysts warn that a recession in the eurozone this winter will be imminent.

Eurozone inflation climbed to new record high of 10.7% in October

If confirmed later in November by Eurostat, the bloc's official statistics agency, this would be the first inflation reading crossing the 10% threshold.

Eurozone inflation hits a new record high, says Eurostat

The European Union's statistics agency said on Monday (October 31) that inflation in Eurozone was at record 10.7 per cent in October. Just a month before, the same figure was at 9.9 per cent. A huge increase of 41.9 per cent has caused the inflation to jump, said Eurostat. The European Central Bank has already warned last week that a recession is looming. It had announced a jumbo interest rate hike in order to attempt to curb inflation.