Saturday, May 31, 2025

Latest

EU Inflation Soars to Record-High Thanks to Skyrocketing Food and Energy Costs

It appears European consumers’ wallets won’t be getting a break anytime soon.

Prices across the EU soared 10.9% year-over-year last month, marking yet another record-breaking high thanks to perpetually skyrocketing food and energy costs. In August, annual inflation stood at 10.1% and a now-seemingly minuscule 3.6% in September 2021. The Eurozone, which is comprised of 19 countries using the euro currency, saw prices rise 9.9% from one year ago, up from August’s 9.1%.

The majority of last month’s jaw-dropping price growth was due to out-of-control food and energy costs, with the latter soaring 40.7% from one year ago. The spiralling price pressures are adding to the urgency of further rate hikes from the European Central Bank, which already raised borrowing costs in July and September.

However, the ECB’s job will likely become a lot more complicated, because the European Commission on Tuesday unveiled a €40 billion aid package to help small and medium-sized businesses and poverty-stricken households alleviate financial strain from soaring energy prices. Similarly, Germany, the largest economy in the EU, proposed a €200 billion plan complete with energy price relief measures including a price cap on gas and a windfall profit tax on energy companies.

Information for this briefing was found via Eurostat. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

US Social Security Benefits Boosted 5.9% in Effort to Combat Out-of-Control Inflation

Thanks to rampant inflation that is everywhere and no longer merely transitory, nearly 70 million...

Friday, October 15, 2021, 03:29:00 PM

Macklem Is Now Realizing That Immigration Adds To Inflation

As expected, the Bank of Canada (BOC) raised its overnight rate by another 25 basis...

Friday, July 14, 2023, 06:25:00 AM

Canada Considers Tariffs on Chinese EVs, Following US and EU Lead

The Canadian government is reportedly preparing to introduce new tariffs on electric vehicles imported from...

Friday, June 21, 2024, 01:07:00 PM

The Economic Impacts Of Biden’s Proposed $15 Minimum Wage Hike

America’s minimum wage, which has been stagnant since 2009 at a paltry $7.25 per hour,...

Tuesday, February 9, 2021, 10:27:00 AM

EU’s Anti-Money Laundering Regulation Is Not a Ban on Anonymous Crypto Wallets

Contrary to recent reports, the European Union has not banned anonymous cryptocurrency wallets and transactions...

Saturday, April 6, 2024, 11:47:00 AM