Inflation hits record 8.9% in 19 countries using the euro

By AP News

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BRUSSELS (AP) — Inflation in the European countries using the euro currency shot up to another record in July, pushed by driven partly by .

FILE - Euro banknotes lie on a table in Munich, Germany, on March 30, 2022. Annual inflation in the eurozone’s 19 countries rose to 8.9% in July, from 8.6% in June, according to the latest numbers published Friday by the European Union statistics agency. (AP Photo/Matthias Schrader)

BRUSSELS (AP) — Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia's war in Ukraine .

Annual inflation in the eurozone’s 19 countries rose to 8.9% in July, an increase from 8.6% in June, according to the latest numbers published Friday by the European Union statistics agency.

Inflation has been running at its highest level since 1997, when record-keeping for the euro began.

Energy prices surged by 39.7%, while food prices rose by 9.8% and other goods by 4.5%.

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Author: AP News

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