Posted on 09/30/2022 5:30:30 AM PDT by Oldeconomybuyer
FRANKFURT, Germany (AP) — Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power.
Consumer prices in the 19-country eurozone rose a record 10% in September from a year earlier, up from an annual 9.1% in August, EU statistics agency Eurostat reported Friday. Only a year ago, inflation was as low as 3.4%.
Price increases were beyond what market analysts had expected and are at their highest level since record-keeping for the euro started in 1997. Energy prices were the main culprit, rising 40.8% over a year ago. Food, alcohol and tobacco prices jumped 11.8%.
(Excerpt) Read more at apnews.com ...
The pedophile clown needs to tell his Europals how to get out of inflation overnight like he did for the U.S. sarc/
The pedophile clown insists US inflation is zero, despite it being at a 40 year high of 8.3%.
But it only went up a teeny weeny bit....
So explain to me how the Fed printing money caused this in Europe.
The pedophile clown and his globalist elite friends caused this.
Take that Putin!
So the central banks in Europe didn’t print a whole lot of money due to Covid?
So only up .9 right Joe.
Nope, not as much as we did. This is mainly on their energy policies, weak euro, and trade.
10% in EU?
It is more than 20% in the Feudal State of Biden’sVille.
And it is purely intentional. Their train is going full speed ahead approaching a brick wall. Approaching splatter city.
(From the news source): "Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar,
signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power.
Consumer prices in the 19-country eurozone rose a record 10% in September from a year earlier, up from an annual 9.1% in August,
EU statistics agency Eurostat reported Friday. Only a year ago, inflation was as low as 3.4%." (Emphasis mine)
Price increases were beyond what market analysts had expected and are at their highest level since record-keeping for the euro started in 1997.
Energy prices were the main culprit, rising 40.8% over a year ago. Food, alcohol and tobacco prices jumped 11.8% "
Meanwhile, high prices for utility bills, food and fuel are leaving consumers with less money to spend on other things.
That is the main reason economists are predicting a recession, or a severe and long-lasting downturn in economic activity,
for the end of this year and the first months of next year.
The European Central Bank is raising interest rates to combat inflation by keeping higher prices from being baked into people’s expectations for wages and prices, it but can’t by itself lower energy prices.
Friday’s inflation reading was likely to be a matter of “grave concern” for the ECB, said Jessica Hinds, senior Europe economist at Capital Economics.
She said the central bank’s rate-setting council was likely to raise its benchmark rates by an outsized three-quarters of a percentage point at its next meeting Oct. 27."
You think they’re not printing their money to excess, too?
They are printing more than us.
Absolutely, and mea culpa, that comment was supposed to be to Dave Wright.
Not even an inch . . .
I remember 15% in the US so they could have a long way to go yet.
Though I think inflation peaks here ‘soon’ meaning within 6-9 months.
“long-lasting downturn in economic activity,
for the end of this year and the first months of next year.”
That’s interesting but not long-lasting, being only about 6-8 months.
Agreed ! You are factually correct !
That is why I copied information right from the news source,
and why I identified the news source.
Isn't that always what shocked Liberals say when the real figures (not their BS propaganda stats) get released?
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