Rocketing European inflation......Ukraine war major reason.
New York Times
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Inflation skyrockets in Europe
Prices across Europe keep rising. Data released yesterday showed that in September, overall consumer prices climbed nearly 11 percent in the E.U. and 10.1 percent in Britain from a year earlier.
Food prices are especially high: Costs jumped nearly 16 percent in the E.U. and more than 14 percent in Britain. Bread prices are up nearly 19 percent from a year ago — the fastest rise on record.
The war in Ukraine is a major contributing factor, as the invasion roils markets, raises energy prices and drives up the prices of grains and fertilizers. And the squeeze has been sharpest near the conflict zone: In Hungary, the cost of a basic loaf has surged by 77 percent.
Context: Officials generally aim to keep the rate of inflation around 2 percent — enough to keep the economy growing yet preserve stability in prices. Many advanced democracies are at least four times above that pace.
....
Inflation skyrockets in Europe
Prices across Europe keep rising. Data released yesterday showed that in September, overall consumer prices climbed nearly 11 percent in the E.U. and 10.1 percent in Britain from a year earlier.
Food prices are especially high: Costs jumped nearly 16 percent in the E.U. and more than 14 percent in Britain. Bread prices are up nearly 19 percent from a year ago — the fastest rise on record.
The war in Ukraine is a major contributing factor, as the invasion roils markets, raises energy prices and drives up the prices of grains and fertilizers. And the squeeze has been sharpest near the conflict zone: In Hungary, the cost of a basic loaf has surged by 77 percent.
Context: Officials generally aim to keep the rate of inflation around 2 percent — enough to keep the economy growing yet preserve stability in prices. Many advanced democracies are at least four times above that pace.
61-69, M
