Eurozone inflation smashes historic high ...News

Consumer prices rose by 8.9%, the highest ever recorded Inflation in the Eurozone hit the highest level on record in July, reaching 8.9%, preliminary data from the European Union Statistics Office (Eurostat) showed on Friday. The result is worse than the expected consumer price growth of 8.6% and was far above the European Central Bank’s 2% target. The index rose 0.3% month on month after rising 0.8% a month earlier. Analysts mostly attribute soaring inflation to higher energy prices, which rose 39.7% year on year this month, after jumping 42% in June. However, analysts state that processed food and service prices

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