Inflation hits record 8.6% for 19 countries using the euro

LONDON (AP) — Inflation in countries using the euro set another eye-watering record, pushed higher by a huge increase in energy costs fueled partly by Russia’s war in Ukraine.

Annual inflation in the eurozone’s 19 countries hit 8.6% in June, surging past the 8.1% recorded in May. That’s according to the latest numbers published Friday by the European Union statistics agency, Eurostat.

Inflation is at its highest level since recordkeeping for the euro began in 1997.

Energy prices rocketed 41.9% and food prices were up 8.9%, both faster than the increases recorded in the previous month.

Rising consumer prices are a problem worldwide, with the U.S. and Britain seeing inflation at 40-year highs.

Categories: National News