Latest News

Dow Jones Newswires: Eurozone inflation rose to record high of 8.6% in June


The eurozone’s annual rate of inflation accelerated again in June, reaching its highest level in history.

Consumer prices rose 8.6% on year in June after climbing 8.1% in May, according to a first estimate released Friday by Eurostat, the European Union’s statistics agency. Economists polled by The Wall Street Journal had forecast eurozone inflation at 8.4% in June.

Russia’s attack on Ukraine has fueled a climb in energy prices and they were the main driver of the on-year increase. Energy prices rose 41.9% compared with 39.1% in May, showing an acceleration. However, price pressures have broadened to other categories with food, alcohol and tobacco prices up 8.9% on year in June compared with 7.5% in May.

Consumer prices rose 0.8% on month in June, data from Eurostat showed.

The core consumer price index, which excludes the more volatile categories of food and energy, rose 3.7% on year in June after rising 3.8% the previous month. This figure was below the 3.9% forecast by economists in a Wall Street Journal poll.

Economists expect eurozone inflation to continue hitting new highs through the summer, as energy and food prices continue to rise due to Russia’s war in Ukraine. A worsening of supply-chain disruptions has also put additional upward pressure on inflation.

Write to Maria Martinez at

NerdWallet: ‘The key is not to be paralyzed by fear.’ Now is the time to be proactive before higher rates show up on your credit card bills.

Previous article

‘A horror story’. These 3 charts show just how historically bad markets performed in the first half of 2022

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News