European inflation soars to record 7.5% on fuel, food costs......

ABC News ^ | 4/1/2022 | KELVIN CHAN

[caww]

LONDON -- Inflation in Europe soared to another record, according to new EU figures released Friday, ....

Consumer prices in the 19 countries that use the euro currency rose by an annual rate of 7.5% in March, according to the European Union statistics agency, Eurostat. The latest reading 'smashed the high set just last month', when it hit 5.9%. It's the fifth straight month that inflation in the eurozone has set a record, bringing it to the highest level since recordkeeping for the euro began in 1997.

Rising consumer prices are a growing problem around the world, making it more difficult for people to afford everything from groceries to their utility bills. Spiking energy costs are the main factor driving inflation in Europe, with those prices surging 44.7% last month, up from 32% in February, Eurostat said.

[rbmillerjr]

5-8 percent inflation in Europe.

https://www.businessinsider.com/russia-economy-gdp-crash-ukraine-war-inflation-sanctions-energy-putin-2022-3?msclkid=c6e5cad8b25c11ecb902299aefc2c202
It could be worse, they could be in Russia, where they expect 20% inflation and the economy to shrink by 15 percent.

[FLT-bird]

If we drilled and fracked all we could, it would put millions more barrels of oil per day on the market not to mention natural gas. That would drive down energy cost, give the Europeans a lot more energy security and would provide a lot of good paying jobs to working and middle class people here at home as well as weaken Putin by lightening his wallet.

All it would take would be giving up the idiotic Gaia worship.

[SmokingJoe]

Putin's revenge.
So America and western Europe impose sanctions on Russia, but then American and European consumers end up suffering terrible consequences and Russia is making plenty of money from much higher oil, gas and fertilizer prices. And Dementia Joe keeps crying about Putin's gas price hike, forgetting to mention Dementia Joe is the president of America not Putin

[Tilted Irish Kilt]

Prepper Ping - Europe suffers from Inflation on rising consumer prices, including food, fertilizers, and petroleum products
Does this mark the end, or just stunt the growth of globalism ?
Russian and China have already embargoed their entire production of fertilizers, thus causing concern for food scarcity

(From the article source) :" Rising consumer prices are a growing problem around the world,
making it more difficult for people to afford everything from groceries to their utility bills.
Spiking energy costs are the main factor driving inflation in Europe,
with those prices surging 44.7% last month, up from 32% in February, Eurostat said."

"Oil and gas prices had already been rising because of increasing demand from economies recovering from the depths of the COVID-19 pandemic.
They jumped higher after Russia, a major oil and gas producer, invaded Ukraine,
on fears that sanctions and export restrictions could crimp supplies."

More information at the article news site.

[metmom]

I don’t believe inflation is as low as they claim.

They are somehow fudging the numbers.

Food has gone way up, while portion sizes of food have dropped.

Gas, diesel, home heating oil, propane, etc, has about doubled.

These are major chunks of people’s income.

[rdcbn1]

The numbers for Euro inflation are bad. The reality is actually much worse. European cost of living is already much higher than it is in the US and their standard of living is significantly lower than ours as well. Add in the fact that much of the Euro zone is far more socialist than here in the US so much of the cost of living is carried by the teetering socialist states and the record high energy coats and there will some pain in their economies

[immadashell]

How do you say, “Let’s Go Brandon” in French, German, Polish, Norwegian, Spanish, Italian, etc.?