Soaring Energy Costs Push Eurozone Inflation to Highest Level in 13 Yearson October 1, 2021 at 4:46 pm

Inflation in the 19 European countries that share the euro hit a 13-year high, challenging the European Central Bank’s (ECB) view that price pressures are largely benign and will soon fade. Consumer price inflation in the eurozone accelerated to 3.4 percent over the year in September, up from 3 percent a month earlier and 2.2 percent the month before that, according to Oct. 1 data (pdf) from Eurostat, the European Union’s statisics agency. That’s the highest reading since September 2008 and slightly ahead of analyst forecasts of 3.3 percent. A surge in energy costs was behind the bulk of the inflationary pressure, with energy prices rising 17.4 percent over the year and 1.3 percent over the month in September. Factors behind the run-up in energy costs in Europe include a demand rebound from the lows of the pandemic recession, OPEC production caps, and global transport bottlenecks. Lackluster output from Europe’s …

Leave a Reply

Your email address will not be published.

Next Post

School Boards Ask Biden Admin to Treat Parents’ Protests as ‘Domestic Terrorism’US News | The Epoch Times

Fri Oct 1 , 2021
The national organization of public school boards is calling on the Biden administration to protect its members from “angry mobs” of parents who protest against COVID-19 restrictions placed on students and the teaching of critical race theory, characterizing the protests as “domestic terrorism.” The National School Boards Association (NSBA), which […]

Chief Editor

Johny Watshon

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur

Quick Links

Newsletter Signup

Sign up now and never miss a thing!

You're Signed Up!

Now that you are signed up, we will send you exclusive offers periodically.