2022-08-11 16:59:24 ILLUSTRATIVE - Bills on the kitchen table. Consumers are concerned about the development of purchasing power. ANP LEX VAN LIESHOUT netherlands out - belgium out(Photo by lex van lieshout fotografie/ANP/Sipa USA)
ILLUSTRATIVE – Decrease in purchasing power
LONDON (AP) — Inflation in the European countries using the euro currency hit another record in August, fueled by soaring energy prices mainly driven by Russia’s war in Ukraine. Annual inflation in the eurozone’s 19 countries rose to 9.1% in August, up from 8.9% recorded in July. That’s according to the latest figures released Wednesday by the European Union statistics agency. Inflation is at the highest levels since record-keeping for the euro began in 1997. Energy prices surged by 38.3%, while food prices rose by 10.6%. Prices for goods were up 5% and the cost of services rose 3.8%.
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