Inflation hits 9.1% in countries using euro currency as fuel prices soar

Inflation in the European countries using the euro currency hit another record in August, fuelled by soaring energy prices mainly driven by Russia’s war in Ukraine.

Annual inflation in the eurozone’s 19 countries rose to 9.1% in August, up from 8.9% in July, according to the latest figures released Wednesday by the European Union statistics agency.

Inflation is at the highest levels since record-keeping for the euro began in 1997.

Energy prices surged 38.3%, while food prices rose 10.6%. Prices for goods were up 5% and the cost of services rose 3.8%.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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