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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Inflation Hits Record High of 7.5% in Countries Using Euro

FILE - People fill up the shopping streets in Cologne, Germany, Wednesday, Nov. 17, 2021. (AP Photo/Martin Meissner, File)

Inflation hit a new record for the 19 countries that use the euro as skyrocketing fuel prices boosted by the war in Ukraine add new burdens to household finances and weigh on a slowing economic recovery from the latest outbreaks of COVID-19.

Annual inflation hit 7.5% for April, the highest since statistics started in 1997 and the sixth record in a row, topping the old record of 7.4% from March, the European Union's statistics agency Eurostat reported Friday.

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