Inflation in the eurozone reaches new record high of 8.6%
Soaring energy prices have pushed inflation across the eurozone to a new high of 8.6% in June.The record-breaking figure, up from 8.1% in May, spells bad news for the European economy, which is currently dealing with several challenges at the same time: the war in Ukraine, dwindling supplies of Russian gas, global food insecurity, disrupted supply chains and the ripple effects from stringent lockdowns in China.
No EU country is spared from the pains of inflation, which has never been been so high in the history of the single currency. The phenomenon has become an extremely pressing and intricate challenge for policymakers, companies and consumers.
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