Inflation hits new record in Europe, slowing economy

Summary by Ground News

Consumer price growth in the 19 countries sharing the euro accelerated to 10.7% in October from 9.9% a month earlier. Energy prices continued to drive inflation but food and imported industrial goods all pushed prices sharply higher. Economic growth also slowed ahead of what economists fear is a looming recession, largely as a result of those higher prices sapping Europeans' ability to spend. The ECB has raised rates a combined 200 basis points in the past three months and promised further tightening as soon as December.

Published 3 months ago · Frankfurt, Germany

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Times of India

Inflation hits new record in Europe, slowing economy

Annual inflation reached 10.7% in October, the European Union's statistics agency, Eurostat, reported Monday. That is up from 9.9% in October and the highest since statistics began to be compiled for the eurozone in 1997.

3 months ago·Mumbai, India

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Reuters

Euro zone inflation soars past forecasts to new record high

FRANKFURT -Euro zone inflation surged past expectations yet again this month to hit a record high, pointing to further interest rate hikes from the European Central Bank as price pressures appear to be broadening. Consumer price growth in the 19 countries sharing the euro accelerated to 10.7% in October from 9.9% a month earlier, beating expectations in a Reuters poll for 10.2% as

3 months ago·United Kingdom

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The Hindu

Inflation hits new record in Europe, slowing economy

Inflation just keeps punishing the European economy

3 months ago·India

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Associated Press News

Inflation hits new record in Europe, slowing economy

FRANKFURT, Germany (AP) — Inflation hit a new record in the 19 countries that use the euro currency, fueled by out-of-control prices for natural gas and electricity due to Russia's war in Ukraine.

3 months ago·United States

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abc News

Inflation hits new record in Europe, slowing economy

Inflation just keeps punishing the European economy

3 months ago·United States

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Independent.ie

Inflation hits new record in Europe as economy slows

Inflation has hit a new record in the 19 countries that use the euro currency, fuelled by out-of-control prices for natural gas and electricity due to Russia’s war in Ukraine.

3 months ago·Ireland

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