Eurozone Inflation Hits Record High as Ukraine War Drives Up Energy Costs

The eurozone's annual rate of inflation rose further in March, beating forecasts and marking the highest print in history.

Consumer prices rose 7.5% on year in March after climbing 5.9% in February, according to a first estimate released Friday by Eurostat, the European Union's statistics agency. Economists polled by The Wall Street Journal forecast eurozone inflation at 6.9% in March. The main driver of the on-year increase was energy prices, which rose 44.7% on year. This compares with a 32.0% rise in February.The core consumer price index--which excludes the more volatile categories of food and energy--rose 3.0% on year in March after rising 2.7% the previous month. This figure was below the 3.2% forecast by economists in a Wall Street Journal poll.

The acceleration in the eurozone's annual rate of inflation adds further evidence to a buildup in price pressures globally that is lasting longer than initially expected amid strong consumer demand, high energy prices and global supply-chain disruptions. Russia's attack on Ukraine has fueled a climb in energy prices, which is set to lead to even higher inflation in the coming months, economists warn.

It will get better in a month.

☑️Ticker : $CROBI ☑️Buy & sell tax : 12% 3% LP + 6% Marketing + 2% Reflections + 1% Burn 🟢 🟢 (Dyor-Paid Promo- I do think this has HUGE potential with the fact they will incorporate a game. Long term hold though. 29k mc)

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

High energy costs are hitting UK; it’s about to get worseLONDON (AP) — Tia Rutherford is worried about her 3-year-old son.
Source: mercnews - 🏆 88. / 68 Read more »

5 New Reports Show Wind And Solar Power Can Cripple Putin, Secure Climate GoalsAs Russia’s war in Ukraine worsens a global energy crisis, five new reports have come to similar conclusions about what nations need to do to secure their energy supply while hitting their climate targets. Some more fake, wishful thinking reports?
Source: Forbes - 🏆 394. / 53 Read more »

Texas power grid, energy sectors facing elevated Russian cyber threats during war in UkraineRussian hackers have been probing Texas’ energy infrastructure for weak points in digital systems that would allow them to steal sensitive information or disrupt operations, according to interviews with energy companies, state officials and cybersecurity experts. They're getting their excuses ready for when it fails
Source: FOX26Houston - 🏆 448. / 53 Read more »

With War in Ukraine and Threats From Putin, Europeans Anxiously Wait for Energy RationingEuropean countries could soon be see their energy supplies rationed, analysts have predicted. Wait until they hear about the wheat shortages
Source: NBCDFW - 🏆 288. / 63 Read more »

Texas power grid, energy sectors facing elevated Russian cyber threats during war in UkraineRussian hackers have been probing Texas’ energy infrastructure for weak points in digital systems that would allow them to steal sensitive information or... TexasTribune Great another thing to worry about TexasTribune Great. Just great. Now, if the power goes out Abbott and his ilk have a convenient scapegoat for not doing their job. Just blame the Russians. TexasTribune Why? We already have Gov. Abbott.
Source: dallasnews - 🏆 18. / 71 Read more »