Core Inflation Soars to Record High in Eurozone
Core inflation soared to a record high in the eurozone in January, as the bloc’s energy crisis continues.
The euro bloc is currently facing the worst energy crisis in decades, after the Russia–Ukraine war caused gas and oil prices to soar.
Last month, Europe’s consumer price index showed inflation in the euro bloc hitting a record 8.6 percent, but down from 9.2 percent in December, according to revised data from the European Union’s statistics agency Eurostat, on Feb 23.
The January report also confirmed that inflation declined for the third consecutive month in the 20-member bloc.
Latvia had the highest inflation rate in the monetary region, at above 21 percent, while Luxembourg and Spain had the slowest, at just under 6 percent….