19 nations share the euro as their currency
(Picture: AP)Soaring inflation is showing no sign of easing off in the eurozone, reaching another record high as rocketing gas and electricity prices continue to drive the cost-of-living crisis, adding to pressure on policymakers for a hawkish rate hike next week
The consumer price index reached 9.1% in August, higher than the 9% expected by forecasters and up from the last record of 8.9% in July for the 19 countries sharing the currency. Rising food prices added to the increases, which remained driven by higher gas prices after Vladimir Putin’s invasion of Ukraine upended the region’s energy markets and sent economic shockwaves around the world.
